US Futures Slightly Higher After Dow Closes Above Record 16,000


US futures were slightly higher Friday after the Dow Industrials average closed at 16,009.99 yesterday, helped by lower jobless claims. Whereas previously positive jobs data may have caused investors to fear the U.S. Federal Reserve would find reason not only to taper its asset purchases that are propping up markets, but also tighten other economic policies, the minutes from the last meeting of Fed bankers suggest it would take a more sustained set of positive economic data for the central bank to increase lending rates and tighten policies across the board.

On the docket today are two Fed speakers, Kansas City Fed President Esther George will speak on banking supervision and Fed Governor Daniel Tarullo will speak on shadow banking. George has notably dissented from every FOMC statement so far this year. She said after the strong October jobs report that the FOMC was being too aggressive with the current level of monetary accommodation.

At 10:00 am, the Job Openings and Labor Turnover Survey is out. The report contains information on job openings, as well as estimates of the hiring, quit, and layoff & discharge rates.

In equities, Ariad Pharmaceuticals ( ARIA ) jumped 21% after saying that the European Medicines Agency's Committee for Human Medicinal Products adopted a positive view on continued use of its Iclusig drug for use in patients with leukaemias even as it made a series of recommendations on measures to help minimize the risk of occlusive vascular events. In retail, Foot Locker ( FL ) rose nearly 3% on better than expected Q3 earnings while ANN Inc. ( ANN ) was down over 2% after guiding for Q4 sales below street expectations.

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 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

Referenced Stocks: ANN , ARIA , FL

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