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U.S. futures edge lower on Fed speculation; Dow Jones down 0.14%

Published 07/25/2014, 06:19 AM
Updated 07/25/2014, 06:19 AM
U.S. futures point to lower open on rate hike talk

Investing.com - U.S. stock futures pointed to a lower open on Friday, as Thursday's strong U.S. jobless claims report fuelled speculation over the timing of a possible rate hike by the Federal Reserve.

Ahead of the open, the Dow 30 futures pointed to a 0.14% loss, S&P 500 futures signaled a 0.16% fall, while the Nasdaq 100 futures indicated a 0.35% decline.

On Thursday, the U.S. Department of Labor reported that the number of individuals filing for initial jobless benefits in the week ending July 19 declined by 19,000 to an more than eight-year low of 284,000, from the previous week’s total of 303,000.

Markets were also jittery amid ongoing tensions in Ukraine and the Middle East.

Pro-Russian rebels shot down two Ukrainian fighter jets on Wednesday, not far from where the Malaysian Airlines passenger plane was brought down in eastern Ukraine late last week. Separately, Ukrainian Prime Minister Arseniy Yatsenyuk announced his resignation on Thursday following turmoil in the government.

Amazon.com (NASDAQ:AMZN) was likely to be in focus, as shares dove 9.38% in pre-market trade after the online retailer missed analysts's estimates for a second straight quarter.

Also in earnings news, Visa (NYSE:V) reduced its revenue forecast for the rest of the fiscal year, sending shares in the world’s largest payments network down 3.03% after hours.

Ford Motor (NYSE:F) shares inched up 0.06% in late trading, after saying second quarter net income rose to $1.3 billion, compared to $1.23 billion a year earlier.

Elsewhere, Starbucks (NASDAQ:SBUX) plummeted 2.45% in extended trade amid concerns the coffee-shop chain's plans to open more stores and escalating ingredient prices could weigh on profit growth.

Across the Atlantic, European stock markets were lower. The DJ Euro Stoxx 50 slid 0.33%, France’s CAC 40 declined 0.63%, Germany's DAX shed 0.31%, while Britain's FTSE 100 dipped 0.01%.

During the Asian trading session, Hong Kong's Hang Seng rose 0.31%, while Japan’s Nikkei 225 jumped 1.13%.

Later in the day, the U.S. was to release data on durable goods orders.

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