NEW YORK (CNN/Money) -
After getting slammed on disappointment about Cisco Systems, U.S. tech stocks were poised to make a comeback at Thursday's open, while investors await key economic developments over the next few days.
At 9:20 a.m. ET, futures pointed to a higher open, particularly for the tech-laden Nasdaq.
The Nasdaq skidded 2.5 percent Wednesday on two developments: disappointment that Cisco's results announced late Tuesday weren't even better, and Oracle's raised bid for PeopleSoft at least prolonging the lengthy tussle between the two software makers. After such a loss, investors appeared to be looking to get back into the market Thursday morning.
The Dow Jones industrial average lost 0.3 percent in Wednesday's trading.
Two economic reports were released before the start of trading, including weekly jobless claims.
The Labor Department said 356,000 people filed new claims for state unemployment benefits in the week ended Jan. 31, compared with a revised 339,000 the prior week. Economists, on average, expected 340,000 new claims, according to Briefing.com.
The report comes a day before the jobs figures for January, which are seen showing unemployment holding at 5.7 percent and the number of jobs created at 165,000.
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Also released before the opening bell was the fourth-quarter reading on productivity.
Non-farm business productivity, or worker output per hour, increased at a 2.7 percent annual rate in the final three months of the year after an upwardly revised 9.5 percent pace in the previous quarter, the Labor Department said.
The advance was the slowest since a 1.5 percent gain in the final quarter of 2002 and was lower than the 3.0 percent clip expected by analysts.
The dollar eroded against the euro and was little changed versus the yen as investors await the G7 meeting in Florida beginning Friday. The weekend meeting's agenda is expected to include the recent weakness in the U.S. currency that has sent it to three-year lows against its Japanese counterpart and historic lows versus the European currency.
Asian-Pacific stocks ended mixed Thursday, with Tokyo's Nikkei index up 0.2 percent. European markets were mixed early in the session. (Check the latest on world markets)
Treasury prices fell in early trading, raising the 10-year note yield up to 4.14 percent from 4.11 percent late Wednesday.
Brent oil futures slipped 17 cents to $28.71 a barrel in London, where gold edged higher.
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