U.S. stock futures are little-changed after yesterday's big
rally as investors await tomorrow's key payroll report.
The sideways move follows similar trading in Europe and a strong
overnight session in Asia. European indexes are flat to slightly
down, while Chinese shares rose about 2 percent and Japan's Nikkei
rallied almost 1 percent.
Sentiment is mostly characterized by waiting, as investors prepare
for initial jobless claims at 8:30 a.m. ET, plus a busy morning of
earnings releases and January same-store sales data from retailers.
Tomorrow morning the Labor Department will publish monthly payroll
numbers, a report with the potential to move the market strongly.
Challenger, Gray & Christmas also announced that the private
sector planned to cut 53,486 jobs last month, up 28 percent from
Sentiment in currencies and commodities are slightly skewed toward
risk aversion, with the euro, British pound, Canadian dollar, and
Australian dollar all down against the greenback. The Japanese yen
is also stronger.
Gold and silver are off slightly, while copper has declined 1
percent. Agricultural commodities are mostly down less than 1
In company-specific news, wireless-semiconductor maker Qualcomm
reported better-than-expected earnings and revenue. It also raised
its guidance amid strong demand for Apple's iPhone, sending QCOM up
more than 5 percent in extended trading.
Green Mountain Coffee Roasters is surging by 22 percent after
reporting first-quarter profit of $0.60 a share, well above the
$0.36 consensus forecast. That's a big relief for a company that
had lost more than half its value since September.
Fiber-optic company JDS Uniphase is climbing 4 percent after
reporting earnings and revenue both ahead of analyst forecasts. Dow
Chemical, however, is down about 3 percent after missing the