Markets

U.S. Stock Futures Look to Open Firmer As Jobless Claims Data Indicate Modest Job Market Improvement

U.S. stock futures look to extend gains into Thursday's open as the weekly jobless claims data indicate that job growth maintained a modest improvement in job-market trends. The Labor Department reported that weekly jobless claims fell by 11,000 to 346,000 - a little above the forecasts of seasonally adjusted claims of 345,000, according to MarketWatch. The average of new claims over the past month increased by 4,500 to 352,500 - the highest level in six weeks. Continuing claims fell 52,000 to a seasonally adjusted 2.95 million in the week ended May 25.

Overseas, European markets are firmer following the announcement of the European Central Bank that it will maintain its main lending rate at a record low 0.5%. President Mario Draghi's ongoing press conference, will also be closely monitored. Asian stocks were lower amid worries the Fed will cut back its bond-buying program and after U.S. jobs and factory data missed estimates on Wednesday.

In commodities, crude oil futures continued to gap higher following the jobless claims data, up 0.58% at $94.28 a barrel. Gold futures also ticked higher, still above $1,400 an ounce.

U.S. PRE-MARKET INDICATORS

-Dow Jones Industrial down 1.43%

-S&P 500 futures down 1.38%

-Nasdaq 100 futures down 1.27%

-Nasdaq-100 Pre-Market Indicator up 0.21%

GLOBAL SENTIMENT

Nikkei down 0.85%

Hang Seng down 1.05%

Shanghai Composite down 1.12%

FTSE-100 up 0.18%

DAX-30 up 0.47%

PRE-MARKET SECTOR WATCH

(-) Large cap tech: higher

(+) Chip stocks: higher

(+) Software stocks: higher

(+) Hardware stocks: higher

(+) Internet stocks: higher

(+) Drug stocks: higher

(+) Financial stocks: higher

(+) Retail stocks: higher

(+) Industrial stocks: higher

(+) Airlines: higher

(+) Autos: higher

UPSIDE MOVERS

(+) CIEN, (+13.24%) Posts Better-than-Expected Results, Guidance

(+) SODA, (+6.58%) PepsiCo Denies Earlier Reports It Will Buy Company

(+) AMPE, (+3.68%) Gets Approval to Transfer to NYSE

DOWNSIDE MOVERS

(-) PAY, (-16.72%) Q2 Falls Short of Estimates, Sees Q3 Below Street

(-) GA, (-5.83%) Prices Offering for Shareholder

(-) CS, (-0.79%) Taking Lead in Alibaba IPO, According to Reports

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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