U.S. stock futures recovered some ground before the market open
on Thursday, having earlier been down as much half a percent, and
were most recently near flat as consumer spending increased and
jobless claims dropped sharply.
In economic data today, the April consumer price index rose 0.3%
from March, as expected, according to Econoday data. CPI, excluding
food and energy, was higher 0.2% from March compared to the
expected 0.1% gain.
Also out at 08:30 a.m. was the weekly jobless claims, at 297,000
compared to the 317,000 consensus. Meanwhile, the Empire State
manufacturing index for May jumped to 19.01 compared to the 5.00
At 09:15 a.m., industrial production is expected to be unchanged
in April over March, while the capacity utilization rate is also
seen unchanged at 79.2%. Manufacturing is expected to have gained
0.4%. Later, at 10:00 a.m., the NAHB housing market index for May
is seen gaining to 49.00 from 47.00 in April.
In equities, Wal-Mart was down 3% after severe weather had a
negative impact on Q1 EPS, even as sales rose 0.8%. Cisco (
) was meanwhile higher nearly 8% after releasing a fiscal Q3 beat
after the market close on Wednesday.
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