WASHINGTON (dpa-AFX) - After seeing lackluster sentiment in the previous three sessions, Wall Street is attempting to turn the corner. The major U.S. index futures point to a higher opening on Thursday after Asian markets closed mixed and as European stocks are revealing caution amid mixed catalysts. The domestic markets may also take cues from the weekly jobless claims report, which is expected to show a pick up in claims from the 5-year lows reached in the previous week. Chain store sales to be released by the nation's retailers may also render direction to the markets.
As of 6:15 pm ET, the Dow futures are rising 30 points, the S&P 500 Index futures are adding 3.30 points and the Nasdaq 100 futures are advancing 9.25 points.
U.S. stocks ended lower on Wednesday, as the markets continued to consolidate after their recent gains amid fears of scale back of stimulus by the Federal Reserve.
On the economic front, the Labor Department is due to release its jobless claims report for the week ended August 3rd at 8:30 am ET. Economists expect claims to have increased to 336,000 FROM 326,000 in the previous week. The Treasury is set to release the results of its 30-year bond auction at 1 pm ET.
In corporate news, tw Telecom (TWTC) reported second quarter earnings of 11 cents per share on revenues of $389.5 million. The earnings trailed expectations, while the revenues were better than expected. Prudential Financial (PRU) reported second quarter adjusted operating income of $2.30 per share compared to $1.38 per share last year.
Groupon (GRPN) reported second quarter adjusted earnings of 2 cents per share, in line with estimates. Revenues rose 7 percent to $608.7 million, ahead of estimates. The company's third quarter revenue guidance was in line. The company also appointed Eric Lefkofsky as its CEO. Lefkofsky held the CEO position along with Ted Leonsis on an interim basis since its then CEO Andrew Mason was ousted in late February.
VMWare (VMW) announced that its board has authorized the repurchase of up to $700 million of its common stock through the end of 2015. MBIA (MBI) reported a loss of 92 cents per share for its second quarter, reversing from a profit of $2.98 per share last year. Revenues fell 93 percent to $112 million.
Jack in the Box (JACK) announced that its Chairman and CEO Linda Lang will retire, effective January 1st, 2014. The company also announced the appointment of its current president and COO Leonard Comma as its Chairman and CEO.
Among retailers, Costco (COST) reported a 4 percent increase in its comparable store sales for July. Excluding the impact of forex and gasoline prices, same store sales were up 5 percent. Fred's (FRED) same store sales rose 2.5 percent year-over-year in July.
Allscripts-Misys Healthcare (MDRX), Brooks Automation (BRKS), DeVry (DV), Dillard's (DDS), Emulex (ELX), Lions Gate Entertainment (LGF), PDL BioPharma (PDLI) and Priceline.com (PCLN) are among the companies due to release their quarterly results after the close of trading.
The Asian markets closed on a mixed note, with the Japanese, Taiwanese and New Zealand markets declining, while the Hong Kong, Australian and South Korean markets advanced. The Indonesian, Malaysian and Singaporean markets remained closed for a public holiday. Strong trade data from China offered some encouragement to traders, even as the mood remained cautious.
After being higher for much of the session, Japan's Nikkei 225 average retreated in the aftermath of the rate decision and closed 225.52 points or 1.63 percent lower at 13,599. Australia's All Ordinaries closed up 50.50 points or 1.01 percent at 5,047. Hong Kong's Hang Seng Index closed at 21,651, up 62.60 or 0.29 percent, China's Shanghai Composite Index closed 1.88 points or 0.09 percent lower at 2,045.
On the economic front, following the conclusion of a 2-day meeting, the Bank of Japan announced its intention to keep its uncollateralized rate as well as its monetary easing program intact. The decision was based on the bank's stance that the economy has begun to move in a path of moderate recovery and inflation has turned positive.
A report released by the Australian Bureau of Statistics showed that the number of employed persons in Australia fell 10,2000 in July. This defied expectations for an increase of 5,000. China's trade surplus fell more than expected in July, according to a report released by the Chinese Customs. Exports rose a stronger than expected 5.1 percent year-over-year, while imports surged by 10.9 percent.
After opening higher, the European markets have given back some of their gains, as traders digest mixed earnings news and the German trade data. Sentiment in the region was aided in part by the Chinese export and import data released earlier in the day.
In corporate news, Switzerland's Nestle reported a 4.1 percent drop in first half profits, trailing estimates by most analysts. The company also lowered its full year sales growth guidance, citing weakness in Europe. Commerzbank reported a steep decline in its second quarter profits, weighed down by higher loan loss provisions. Meanwhile, Deutsche Telecom's second quarter results were better than expected. Rio Tinto (RIO) reported a decline in its underlying profit for the six-month period to $4.23 billion, although the drop was in line with expectations.
On the economic front, trade data released from Germany showed an increase in surplus to 16.9 billion euros in June from 13.6 billion in May. The German Federal Statistical Office report revealed that exports rose 0.6 percent month-over-month compared to a 0.8 percent drop in imports. Economists expected a 0.9 percent increase in exports and a 0.5 percent increase in imports.
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