Markets

U.S. Stock Futures Turn Lower After Higher-Than-Expected Weekly Jobless Claims

U.S. stock futures turned lower Thursday morning as the open neared, reversing earlier gains, as data showed weekly jobless claims jumped more than expected.

The initial jobless claims for the week ended Aug. 9 jumped to 311,000 from 290,000 the preceding week--which was revised up from 289,000--and were well ahead of 295,000 consensus. The consensus range was between 286,000 and 300,000, according to data compiled by Econoday.

Other data showed export prices were unchanged in July from June, compared with an expected 0.1% contraction. In June, export prices were down 0.4%. Import prices in July slipped 0.2%, as expected. In June, import prices rose 0.1%.

In equities, fuel-cell maker Plug Power ( PLUG ) shares added 10% pre-market. The company reported a Q2 loss that was in line with the Street view while revenue topped expectations. Cisco ( CSCO ) fell 0.5% after giving a fiscal Q1 guidance range where the top end matched analysts' estimates, as the networking giant said it plans to cut 6,000 jobs.

U.S. PRE-MARKET INDICATORS

-Dow Jones Industrial down 0.04%

-S&P 500 futures down 0.08%

-Nasdaq 100 futures down 0.01%

-Nasdaq-100 Pre-Market Indicator unchanged 0.00%

GLOBAL SENTIMENT

Nikkei up 0.66%

Hang Seng down 0.36%

Shanghai Composite down 0.97%

FTSE-100 up 0.39%

DAX-30 up 0.12%

PRE-MARKET SECTOR WATCH

(+/-) Large cap tech: mixed

(+) Chip stocks: unchanged to higher

(-) Software stocks: unchanged to lower

(+/-) Hardware stocks: mixed

(+) Internet stocks: higher

(+/-) Drug stocks: mixed

(+/-) Financial stocks: mixed

(+/-) Retail stocks: mixed

(+) Industrial stocks: unchanged to higher

(+) Airlines: higher

(+/-) Autos: mixed

UPSIDE MOVERS

(+) KSS (+1.6%) Q2 earnings beat views, sales slightly shy

(+) RICE (+0.7%) Prices upsized offering of nearly 12 million shares at $27.3 each

(+) SUPN (+4.4%) Gets FDA fast-track status for ADHD impulsive aggression treatment

(+) PRGO (+3.8%) Tops Q4 estimates, issues FY15 guidance

(+) CPST (+2.7%) Gets follow-on order for six more C600s

(+) REXR (+2.5%) Prices 15-million-share sale at $13.5 each

DOWNSIDE MOVERS

(-) WMT (-0.0%) Q2 earnings matches views, lowers FY EPS outlook

(-) RRGB (-21.0%) Reports Q2 EPS well below estimates

(-) ZOES (-1.7%) Prices upsized offering of 4.5 million share at $30.25 each

(-) FSFR (-8.0%) Sells 22.8 million shares

(-) TKMR (-8.4%) Reports Q2 sales fell, loss widened

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

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


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

In This Story

CSCO PLUG

Other Topics

Commodities

Latest Markets Videos

    MTNewswires

    Founded in 1999, MT Newswires (formerly known as Midnight Trader) is a leading provider of original source, multi-asset class, real-time, global financial news and information to most of the largest banks, brokerage firms and professional market data, trading & research applications in North America.

    Learn More