U.S. Stock Futures Recover From Earlier Decline Pre-Bell, Now Flat Amid Earnings Beats, Encouraging Data

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U.S. stock futures recovered ground before the market open Thursday, trading flat to higher recently as encouraging economic data and a slew of better-than-expected quarterly results lifted stocks.

The latest round of economic data showed January durable-goods orders fell by 1.0%, smaller than the 1.5% decline that was expected. However, December durable-goods orders were revised downward to a 5.3% drop from a 4.3% drop initially.

Separately, initial jobless claims for the week ended Feb. 22 were up 14,000 at 348,000, below the 335,000 consensus. Claims in the week ended Feb. 15 were revised downward to 334,000 from 336,000.

Later Thursday, Federal Reserve Chair Janet Yellen will testify in front of the Senate Banking Committee. It is the second day of her semi-annual monetary policy testimony, which was delayed due to weather. On her first day, she didn't express considerable worry about emerging-markets financial-market volatility or a recent set of weaker U.S. data. She also had said the Fed would likely require "notable" change in the outlook for it to pause or increase the pace of tapering from its now $75 billion-a-month asset-purchasing program.

In equities, department-store operator J.C.Penney ( JCP ) soared 23% in recent pre-market trading after reporting Q4 results that beat analysts expectations. Consumer-electronics retailer Best Buy ( BBY ) rose over 7% pre-market as its Q4 EPS exceeded the average consensus, even as sales fell more than expected.

U.S. PRE-MARKET INDICATORS

-Dow Jones Industrial unchanged

-S&P 500 futures down 0.03%

-Nasdaq 100 futures up 0.14%

-Nasdaq-100 Pre-Market Indicator down 0.01%

GLOBAL SENTIMENT

Nikkei down 0.32%

Hang Seng up 1.74%

Shanghai Composite down 0.43%

FTSE-100 down 0.24%

DAX-30 down 1.02%

PRE-MARKET SECTOR WATCH

(+/-) Large cap tech: mixed

(-) Chip stocks: lower

(-) Software stocks: lower

(-) Hardware stocks: flat to lower

(+/-) Internet stocks: mixed

(+/-) Drug stocks: mixed

(+/-) Financial stocks: mixed

(+/-) Retail stocks: mixed

(-) Industrial stocks: flat to lower

(-) Airlines: lower

(+/-) Autos: mixed

UPSIDE MOVERS

(+) BIDU (+3.0%) Projects Q1 sales ahead of views

(+) CRDC (+8.11%) Gets FDA OK for microcutter for stapling of thin tissue

(+) DANG (+10.9%) Posts surprise Q4 profit, revenue beat

(+) PEIX (+25.6%) Q4 results far exceed expectations

(+) YRCW (+8.3%) Earnings beat views

DOWNSIDE MOVERS

(-) WEN (-2.2%) Reiterates FY EPS guidance at low end of views

(-) RBS (-7.1%) Reports Q4 pre-tax loss of GBP8.24 billion

(-) HLT (-1.4%) Q4 misses views, sets Q1 guidance below street

(-) RL (-1.2%) Slips despite Goldman upgrade

(-) INO (-11.8%) Plans public share sale

(-) CTRX (-12.0%) Slips on Q4 results, guidance

(-) CHS (-4.4%) Q4 earnings miss views, same-store sales drop



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: JCP , BBY

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