US Futures Reverse 3-Day Drop on China Data, Lower-Than-Expected Jobless Claims

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US futures regained some ground Thursday after investor concerns that the U.S. Federal Reserve would start slowing down its asset purchase program had depressed stocks for three straight days. Futures were buffeted by better-than-expected export and import data from China, signalling a stabilization of the world's second largest economy, having helped European indexes to rise. Among the biggest pre-market gainers were Groupon ( GRPN ), adding 25% on the back of quarterly results and a $300 million share buyback program and Tesla ( TSLA ), rising 15% after having reported Q2 results that beat expectations.

Meanwhile, the dollar was at its lowest since June, still weighed down by uncertainty about when the Fed will roll back its quantitative easing program. US initial jobless-benefit claims were 333,000 compared to 336,000 and the prior-week was revised upward to 328,000 from 326,000. Economists had predicted jobless claims would rise to 335,000.

In commodities, light sweet crude oil for September delivery fell $0.47 per share to $103.90 per barrel while copper futures soared on the upbeat data from China, which consumes about 40% of the world's copper supply.

-Dow Jones Industrial up 0.25%

-S&P 500 futures up 0.36%

-Nasdaq 100 futures up 0.43%

-Nasdaq-100 Pre-Market Indicator up 0.26%

GLOBAL SENTIMENT

Nikkei down 1.59%

Hang Seng up 0.31%

Shanghai Composite down 0.09%

FTSE-100 up 0.23%

DAX-30 up 0.64%

PRE-MARKET SECTOR WATCH

(+) Large cap tech: higher

(+) Chip stocks: higher

(+) Software stocks: higher

(+) Hardware stocks: higher

(+) Internet stocks: down

(+) Drug stocks: higher

(+/-) Financial stocks: mixed

(+/-) Retail stocks: mixed

(-) Industrial stocks: lower

(+/-) Airlines: flat

(+) Autos: higher

UPSIDE MOVERS

GRPN (+25%) on results and a $300 million share buyback program.

TSLA (+15%) as Q2 earnings came in better-than-expected.

YGE (+8%) as it raises guidance for Q2 shipments and gross margin.

DOWNSIDE MOVERS

OPXA (-49%) after pricing public share offer at $1.50 apiece.

FIO (-19%) as Q4 revenue missed estimates and guidance came in below consensus.

CROX (-6%) after Sterne Agee downgraded stock to underperform.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


This article appears in: Investing , Commodities

Referenced Stocks: GRPN , TSLA

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