Investing.com – U.S. stock futures edged higher on Thursday, after better-than-expected data on first time jobless claims, while investors awaited a key vote on a plan to raise the country’s debt ceiling ahead of the August 2 deadline.
Ahead of the open, the Dow Jones Industrial Average futures pointed to a modest gain of 0.25%, the S&P 500 futures gained 0.35%, while the Nasdaq 100 futures rose 0.4%.
Stock futures added to gains after official data showed that first time jobless claims fell by 24,000 to 398,000 last week, beating expectations for a drop to 412,000.
Later in the day, the House of Representatives was to vote on a debt-limit increase plan, proposed by House Speaker John Boehner. However, President Barack Obama has threatened to veto the bill and a majority of the Democratic-controlled Senate has vowed to vote against it.
In earnings news, organic grocer Whole Foods saw shares climb 3% to hit a five-year high in pre-market trade after it said fiscal third quarter revenue rose 11% to USD2.4 billion. The company lifted its full-year earnings outlook, citing increased market share.
The world’s largest potash producer PotashCorp saw shares rise 3.5% after it reported a 75% jump in second quarter net profit.
Meanwhile, Starbucks saw shares gain 1.85%, as investors positioned themselves in the stock ahead of the company’s third quarter earnings report due out later in the day.
On the downside, oil giant Exxon Mobil saw shares drop 1.9% after it said second quarter profit totaled USD10.68 billion, below expectations for profit of USD11.2 billion.
Akamai Technologies saw shares plunge 15.2% after third quarter revenue and earnings forecast fell short of market expectations.
Wireless carrier Sprint Nextel saw shares tumble 11.2% after its second quarter loss widened by 10.2% to USD847 million.
Other notable earnings slated for Thursday include natural gas producer Chesapeake Energy, insurance provider MetLife and travel website Expedia.
Across the Atlantic, European stock markets were broadly lower amid renewed euro zone sovereign debt concerns. The EURO STOXX 50 fell 0.7%, France’s CAC 40 dropped 1.1%, Germany's DAX sank 1.3%, while Britain's FTSE 100 declined 0.35%.
During the Asian trading session, Japan’s Nikkei 225 Index tumbled 1.6% as Japanese exporters came under pressure from a broadly stronger yen.
Later in the day, the U.S. was to release industry data on pending home sales as well as government data on natural gas stockpiles.
Ahead of the open, the Dow Jones Industrial Average futures pointed to a modest gain of 0.25%, the S&P 500 futures gained 0.35%, while the Nasdaq 100 futures rose 0.4%.
Stock futures added to gains after official data showed that first time jobless claims fell by 24,000 to 398,000 last week, beating expectations for a drop to 412,000.
Later in the day, the House of Representatives was to vote on a debt-limit increase plan, proposed by House Speaker John Boehner. However, President Barack Obama has threatened to veto the bill and a majority of the Democratic-controlled Senate has vowed to vote against it.
In earnings news, organic grocer Whole Foods saw shares climb 3% to hit a five-year high in pre-market trade after it said fiscal third quarter revenue rose 11% to USD2.4 billion. The company lifted its full-year earnings outlook, citing increased market share.
The world’s largest potash producer PotashCorp saw shares rise 3.5% after it reported a 75% jump in second quarter net profit.
Meanwhile, Starbucks saw shares gain 1.85%, as investors positioned themselves in the stock ahead of the company’s third quarter earnings report due out later in the day.
On the downside, oil giant Exxon Mobil saw shares drop 1.9% after it said second quarter profit totaled USD10.68 billion, below expectations for profit of USD11.2 billion.
Akamai Technologies saw shares plunge 15.2% after third quarter revenue and earnings forecast fell short of market expectations.
Wireless carrier Sprint Nextel saw shares tumble 11.2% after its second quarter loss widened by 10.2% to USD847 million.
Other notable earnings slated for Thursday include natural gas producer Chesapeake Energy, insurance provider MetLife and travel website Expedia.
Across the Atlantic, European stock markets were broadly lower amid renewed euro zone sovereign debt concerns. The EURO STOXX 50 fell 0.7%, France’s CAC 40 dropped 1.1%, Germany's DAX sank 1.3%, while Britain's FTSE 100 declined 0.35%.
During the Asian trading session, Japan’s Nikkei 225 Index tumbled 1.6% as Japanese exporters came under pressure from a broadly stronger yen.
Later in the day, the U.S. was to release industry data on pending home sales as well as government data on natural gas stockpiles.