Markets are looking upbeat Thursday as investors wait for U.S. jobs data and central bank news from Europe, but Twitter shareholders aren't feeling so chipper.
Shares of Twitter(TWTR) fell 20% in premarke trading, a day after the company released its first quarterly results since going public last year. Investors were disappointed by a forecast of slower sales growth.
Peter Cardillo, chief market economist at Rockwell Global Capital, said that markets could have a tough time holding onto gains, since they're in a "market correction" mode with a "negative bias."
"You're looking at one step forward and two steps backward," he said.
The European Central Bank will announce its latest policy decision at 7:45 a.m. ET, with ECB president Mario Draghi speaking at a press conference at 8:30 a.m. ET.
Also at 8:30 a.m. ET, the U.S. government will release its weekly report on initial jobless claims.
Investors are waiting for Friday's monthly non-farm payroll data, which should give a good overview of the current state of the U.S. job market. CNNMoney's survey of economists is forecasting 178,000 jobs were created in January, up from only 74,000 jobs the prior month, with an unemployment rate of 6.7%.
What's moving: Shares of Green Mountain Coffee Roasters(GMCR) soared 40% on news that the firm is partnering with Coca-Cola(KO) on its forthcoming cold-beverage-brewing system. SodaStream(SODA), which will face competition from the new product, fell 9% following the announcement.
General Motors(GM) reported earnings that fell short of estimates, while revenue was roughly in line.
Sony(SNE) fell 5% after the company announced a series of major changes and warned it would lose $1 billion this year. The company is selling its Vaio PC unit, spinning out its television business and cutting 5,000 jobs.
Akamai Technologies,(AKAM) an Internet service provider, surged 20% after a strong earnings report on Wednesday.
Investors are also waiting for AOL(AOL) to release quarterly results before the opening bell, while LinkedIn(LNKD) is up after the close.