Markets

Wall Street Firms Up Amid Raft of Earnings; Jobless Claims Post Unexpected Drop

U.S. stocks were little changed ahead of Thursday's open as investors continued to evaluate a raft of corporate earnings and the just released jobs data, and looked ahead to a couple of Fed speeches later in the session.

Oil prices rallied with global benchmark Brent Crude up 0.80% recently, and U.S. benchmark West Texas Intermediate up 0.99% after official U.S. data showed an unexpected draw in U.S. gasoline inventories.

Data released at 8:30 a.m. showed new jobless claims fell to 234,000 in the Feb. 4 week, versus the prior week level of 246,000 and compared to the 250,000 seen by forecasters, according to data compiled by Econoday.

At 10:00 a.m., wholesale inventories are expected to rise a sharp 1% in December, the same gain posted in the advance report.

Federal Reserve Bank Presidents James Bullard and Charles Evans are scheduled to give speeches in St. Louis, Missouri, and Chicago, Illinois, respectively.

In equities, shares of Twitter slumped 9.9% pre-bell after the micro-blogging platform reported Q4 revenues that trailed analyst estimates, while net profit topped views.

U.S. PRE-MARKET INDICATORS

-Dow Jones Industrial up 0.08%

-S&P 500 futures up 0.08%

-Nasdaq 100 futures up 0.02%

-Nasdaq 100 pre-market indicator up 0.02%

GLOBAL SENTIMENT

Nikkei down 0.53%

Hang Seng up 0.17%

Shanghai Composite up 0.51%

FTSE-100 up 0.11%

DAX-30 up 0.37%

PRE-MARKET SECTOR WATCH

(+-) Large cap tech: mixed

(+) Chip stocks: unchanged to higher

(+) Software stocks: unchanged to higher

(+/-) Hardware stocks: mixed

(+/-) Internet stocks: mixed

(+) Oil stocks: unchanged to higher

(-) Biotech stocks: unchanged to lower

(+) Drug stocks: unchanged to higher

(+) Financial stocks: unchanged to higher

(+) Retail stocks: mixed

(+/-) Industrial stocks: mixed

(+) Airlines: unchanged to higher

(+/-) Autos: mixed

UPSIDE MOVERS

(+) JAGX (+73.5%) Agrees to Acquire Napo Pharma

(+) ETRM (+16.6%) Publishes three-year data from vBloc diabetic patient study

(+) ACOR (+5.4%) Reports statistically significant results from phase 3 trial of Parkinson's disease treatment

DOWNSIDE MOVERS

(-) SNCR (-11.7%) Misses Q4 estimates

(-) KO (-1.7%) Tops Q4 estimates, guides 2017 earnings below Street

(-) IRBT (-9.2%) Tops Q4 estimates, sets mixed guidance for 2017

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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