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US Futures Gain Amid Corporate Earnings Beats And Lower Jobless Claims
By: MT Newswires
US stocks appeared to be set for another open higher Thursday amid positive quarterly earnings reports, with the exception of Twitter, and positive economic data.
Initial jobless claims in the week ended Feb. 1 fell 20,000 to 331,000 compared to the 337,000 consensus. Meanwhile Q4 non-farm productivity rose 3.2% compared to the consensus for a 2.6% increase and against the 3.0% increase in productivity in Q3.
Later today, Fed Governor Daniel Tarullo is set to testify before the Senate Banking Committee on bank oversight and Boston Fed President Eric Rosengren, who is not a voter on the open-market committee, will speak. Rosengren doesn't agree with reducing the pace of asset purchases but has nevertheless said he is "comfortable" with the current approach.
In equities, Twitter ( TWTR ) was the biggest loser, shedding 22% before the market open after its Q4 results disappointed investors. Among gainers were the internet services company AOL ( AOL ), up 4.3%, and retail giant Costco ( COST ), up 2.5%, on improved earnings.