US Stock Futures Turn Nose Down After Jobless Claims Increase Less Than Expected

U.S. stock futures turned slightly lower after data showed a smaller-than-expected increase in weekly jobless claims on Thursday and amid a set of mixed results started off the quarterly earnings season.

Jobless claims in the week ended April 4 rose 14,000 to 281,000 compared to the expected 285,000. Claims in the preceding week were revised down by 1,000 to 267,000.

At 10:00 a.m., wholesale inventories for February are expected to have increased 0.2% compared to the 0.3% increase in January. The consensus range is for inventories to be unchanged to 0.6% higher, according to data compiled by Econoday.

Alcoa ( AA ) unofficially started off the earnings season late Wednesday with a beat on earnings and a miss on sales. AA was lower by nearly 3% in recent premarket trade.

Other notable equities movers included social video games maker Zynga ( ZNGA ), off by over 10% after saying CEO Don Mattrick will leave the company and will be replaced by founder and chairman Mark Pincus who will return to the CEO role. Walgreens Boots Alliance ( WBA ) added 3% after adjusted fiscal Q2 earnings topped estimates, even as sales fell short.

U.S. PRE-MARKET INDICATORS

-Dow Jones Industrial down 0.07%

-S&P 500 futures down 0.12%

-Nasdaq 100 futures down 0.05%

GLOBAL SENTIMENT

Nikkei up 0.75%

Hang Seng up 2.70%

Shanghai Composite down 0.78%

FTSE-100 up 0.70%

DAX-30 up 0.43%

PRE-MARKET SECTOR WATCH

(+/-) Large cap tech: mixed

(+) Chip stocks: unchanged to higher

(+/-) Software stocks: unchanged

(+/-) Hardware stocks: mixed

(+/-) Internet stocks: mixed

(+/-) Drug stocks: mixed

(+) Financial stocks: unchanged to higher

(+/-) Retail stocks: mixed

(-) Industrial stocks: unchanged to lower

(+) Airlines: higher

(+/-) Autos: mixed

UPSIDE MOVERS

(+) PIR (+4.4%) Fiscal Q4 beats view; sales misses

(+) INFN (+5.0%) Offers $ 350 million in cash, stock for Sweden’s Transmode

(+) NVGN (+41.4%) Experimental drug kills melanoma cells

(+) EXEL (+13.7%) Gets fast-track designation for renal cell carcinoma treatment

(+) TASR (+4.7%) Receives order from City of London police department

(+) OPXA (+9.7%) Nets $ 12 million in rights offering

(+) AMCN (+7.8%) Gets Wi-Fi concession right on ordinary trains operated by Shanghai Railway Bureau

(+) INO (+7.7%) INO-3112 immunotherapy activates response in head and neck cancer patients

(+) WPCS (+35.1%) Wins $ 14.4 million in new contracts in March

(+) LB (+1.1%) March comparable store sales rise 9%, lifted by earlier Easter

(+) UAL (+2.8%) March traffic, capacity, load factor, decline

(+) DBVT (+3.9%) Gets breakthrough therapy designation for peanut allergy treatment

(+) LNKD (+1.5%) Buys online learning platform Lynda.com for $ 1.5 billion

DOWNSIDE MOVERS

(-) BBBY (-3.2%) Fiscal Q4 meets views

(-) COST (-1.0%) March comparable sales fall 2%

(-) MEMP (-5.1%) Shareholder to sell 4.7 million units

(-) SRC (-1.2%) Starts secondary offering of 20 million shares

(-) SHPG (-1.9%) Alagille Syndrome treatment fails to meet endpoints

(-) GPT (-1.0%) Initiates sale of 7 million shares

(-) CLF (-4.6%) BMO Capital downgrades to underperform vs market perform; PT slashed

You may also like...

Rules of Discussion on US Stock Futures Turn Nose Down After Jobless Claims Increase Less Than Expected

1. This forum is for discussion of financial markets. Please respect others view even if they are contrary to you.
2. Member's comments should lead to value addition in forum discussion.
3. If anyone is found making repetitive Explicit/Abusive/Racial comments, his account shall be banned and old posts will be deleted.
4. Providing Advice/Recommendations/Tips is fine but it should be free. Members cannot ask to be paid for it. Paid Advice is stricly prohibited
5. Spam links are not allowed. Self-promotion once a week is allowed. Too much promotion or using Contact info in ID will lead to account ban.