Stocks headed lower at the open

By CNNMoney.com staff


NEW YORK(CNNMoney.com) -- U.S. stocks were poised for a lackluster start Thursday, as investors digested the latest round of earnings, mixed economic news and a renewed push for financial reform.

Dow Jones industrial average, S&P 500 and Nasdaq 100 futures were lower ahead of the opening bell.

Futures measure current index values against perceived future performance and offer an indication of how markets may open when trading begins.

U.S. stocks finished Wednesday's session mixed. Strong earnings have helped boost sentiment recently, although investors still remain wary about the economic recovery.

Corporate results: Microsoft (MSFT, Fortune 500) and Amazon.com (AMZN, Fortune 500) are among the companies due to report quarterly results after the closing bell. American Express (AXP, Fortune 500) will also post Thursday afternoon.

Starbucks (SBUX, Fortune 500) reported a jump in quarterly profit and raised its outlook for the year after U.S. markets closed Wednesday. The coffee retailer's results topped Wall Street's estimates.

Wall Street reform: President Obama will make another push for tougher financial rules Wednesday. He is due to give a speech near the heart of Wall Street.

Economy: The government released reports on first-time claims for unemployment benefits, and inflation at the wholesale level before the market opened.

There were a total of 456,000 initial jobless claims filed in the week ended April 17, down from the previous week's revised figure of 480,000, according to the Labor Department's weekly report.

The report was roughly in line with expectations and marked the first time in three weeks that claims declined. Economists surveyed by Briefing.com had anticipated 455,000 initial claims.

Separately, government figures showed inflation at the wholesale level rose more than expected in March. The Producer Price Index increased 0.7% last month after falling 0.6% in February. Economists were expecting a 0.5% rise in March.

Still to come, the National Association of Realtors is expected to report that existing home sales rose to a 5.3 million unit annualized rate from a 5.02 million unit rate in February, according to economists' forecasts. The report is due at 10 a.m. ET.

World markets: European markets fell in active trading. Shares in London, Paris and Frankfurt all lost about 1%.

Stocks in Asia pulled back. Japan's Nikkei fell 1.3%, the Shanghai Composite shed 1.1% and the Hang Seng in Hong Kong dipped 0.3%.

Other markets: The dollar rose versus the euro and the pound, but gained ground against the yen.

The price of oil fell $1.10 to $82.58 a barrel. Gold prices fell $8.30 to $1,140.40 an ounce.

Bond prices edged higher. The yield on the benchmark 10-year Treasury bond was 3.74%. 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 30,924.14 -345.95 -1.11%
Nasdaq 12,723.47 -274.28 -2.11%
S&P 500 3,768.47 -51.25 -1.34%
Treasuries 1.55 0.08 5.44%
Data as of 11:34pm 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.