Stocks set for weak open

chart_sp500_100805b.top.jpg By CNNMoney.com staff


NEW YORK (CNNMoney.com) -- U.S. stocks were set for a weak open Thursday, after a government report showed a rise in the number of unemployment claims filed last week.

Dow Jones industrial average (INDU), S&P 500 (SPX) and Nasdaq (COMP) futures were narrowly higher. Futures measure current index values against perceived future performance.

U.S. stocks rose Wednesday, but gains were slight, as investors focused on economic data. The Dow added 0.4% and the broader S&P 500 increased 0.6%.

The weekly jobless claims figure unnerved investors a bit as it comes ahead of Friday's monthly jobs report, which economists expect to show the U.S. economy lost 87,000 jobs in July.

"Trading will be pretty light as investors continue to digest corporate earnings and look ahead to the July jobs report due Friday morning," said Derek Hoffman, founder of The Wall Street Cheat Sheet. "The market is going to wait until after tomorrow's report to make the next move."

Jobs: The number of Americans filing for initial unemployment claims climbed 19,000 to 479,000 in latest week. That marks the highest figure in three months and compares with an upwardly revised 460,000 the previous week, the Labor Department said.

Economists surveyed by Briefing.com had expected 455,000 Americans filed first-time jobless claims last week, down from 457,000 the previous week.

The reading comes ahead of Friday's much-anticipated July jobs report from the Labor Department.

Retail sales: Investors will also be watching July chain-store sales for the latest signs on the health of the consumer.

Earnings: Companies due to report financial results include Cardinal Health (CAH, Fortune 500), Cigna (CI, Fortune 500), DirecTV (DTV, Fortune 500) and Time Warner Cable (TWC, Fortune 500).

World markets: European markets edged higher in the early going. Britain's FTSE 100 and Germany's DAX posted mild gains. France's CAC 40 rose 1%.

In Asia, Japan's Nikkei rallied, climbing 1.7%. The Shanghai Composite fell 0.7% and the Hang Seng in Hong Kong finished little changed.

Currencies and commodities: The dollar fell versus the euro, but edged higher against the British pound and the Japanese yen.

U.S. light crude oil for September delivery fell 35 cents to $82.12 a barrel.

COMEX gold's December contract rose $3.30 to $1,199.10 per ounce.

Bonds: Treasury prices were mostly lower Thursday. The 10-year note was down, pushing its yield down to 2.96% from 2.95% late Wednesday. Bond prices and yields move in opposite directions To top of page

Just the hot list include
Frontline troops push for solar energy
The U.S. Marines are testing renewable energy technologies like solar to reduce costs and casualties associated with fossil fuels. Play
25 Best Places to find rich singles
Looking for Mr. or Ms. Moneybags? Hunt down the perfect mate in these wealthy cities, which are brimming with unattached professionals. More
Fun festivals: Twins to mustard to pirates!
You'll see double in Twinsburg, Ohio, and Ketchup lovers should beware in Middleton, WI. Here's some of the best and strangest town festivals. Play
Overnight Avg Rate Latest Change Last Week
30 yr fixed3.80%3.88%
15 yr fixed3.20%3.23%
5/1 ARM3.84%3.88%
30 yr refi3.82%3.93%
15 yr refi3.20%3.23%
Rate data provided
by Bankrate.com
View rates in your area
 
Find personalized rates:
Index Last Change % Change
Dow 32,627.97 -234.33 -0.71%
Nasdaq 13,215.24 99.07 0.76%
S&P 500 3,913.10 -2.36 -0.06%
Treasuries 1.73 0.00 0.12%
Data as of 6:29am ET
Company Price Change % Change
Ford Motor Co 8.29 0.05 0.61%
Advanced Micro Devic... 54.59 0.70 1.30%
Cisco Systems Inc 47.49 -2.44 -4.89%
General Electric Co 13.00 -0.16 -1.22%
Kraft Heinz Co 27.84 -2.20 -7.32%
Data as of 2:44pm ET

Sections

Bankrupt toy retailer tells bankruptcy court it is looking at possibly reviving the Toys 'R' Us and Babies 'R' Us brands. More

Land O'Lakes CEO Beth Ford charts her career path, from her first job to becoming the first openly gay CEO at a Fortune 500 company in an interview with CNN's Boss Files. More

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.