US Stock Futures Near Flat After Drop in Jobless, Higher Consumer Spending


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 consensus.

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 ( CSCO ) was meanwhile higher nearly 8% after releasing a fiscal Q3 beat after the market close on Wednesday.

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: CSCO

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