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US Stock Futures Up; Bernanke, Jobless Claims In Focus

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US stock futures are higher this morning, as investors are awaiting congressional testimony by Fed Chairman Ben Bernanke. Futures for the Dow Jones Industrial Average surged 15 points to 12,434.00 and S&P 500 index futures rose 3.20 points to 1,318.70. Nasdaq 100 futures gained 6.25 points to 2,556.25.

US stocks closed higher on Wednesday, with the Dow Jones Industrial Average surging 2.37% to 12,414.79, the S&P 500 index rising 2.30% to 1,315.13 and the Nasdaq 100 index gaining 2.40% to 2,844.72.

Data on jobless claims will be released at 8:30 a.m. ET. Fed Chairman Ben Bernanke is scheduled to testify before a congressional panel at 10 a.m. ET.

Isle of Capri Casinos Inc (NASDAQ: ISLE) is estimated to post its Q4 EPS at $0.31 on revenue of $272.39 million. The J. M. Smucker Company (NYSE: SJM) is projected to post its Q4 EPS at $0.99 on revenue of $1.35 billion.

Bio-Reference Laboratories Inc (NASDAQ: BRLI) is expected to post its Q3 EPS at $0.32 on revenue of $161.48 million. Navistar International Corporation (NYSE: NAV) is projected to post its Q2 EPS at $0.71 on revenue of $3.65 billion.

UTi Worldwide Inc (NASDAQ: UTIW) is estimated to post its Q1 EPS at $0.16 on revenue of $1.23 billion. Titan Machinery Inc (NASDAQ: TITN) is expected to post its Q1 earnings at $0.38 per share on revenue of $393.73 million. The Cooper Companies Inc (NYSE: COO) is projected to post its Q2 EPS at $1.20 on revenue of $349.94 million.

The Men's Wearhouse Inc (NYSE: MW) reported disappointing FQ1 results and issued a weak Q2 forecast.

Annie's Inc (NYSE: BNNY) reported upbeat fiscal fourth-quarter earnings.

European markets were higher today. The STOXX Europe 600 Index gained 0.53%, London's FTSE 100 Index moved up 0.79%, French CAC 40 index rose 0.56% and German DAX 30 index gained 0.56%.

Asian markets ended mostly higher, with Japan's Nikkei Stock Average rising 1.24%, Australia's S&P/ASX 200 moving up 1.27% and China's Shanghai Composite dropping 0.71%. Hong Kong's Hang Seng Index rose 0.85% and India's Sensex surged 1.35%.

Nymex crude-oil futures dropped $0.14 to $84.88 a barrel in electronic trade, while gold futures declined $10.80 an ounce to trade at $1,622.

The dollar index (DXY) dropped 0.04% to trade at 82.17.

Posted-In: Fed Chairman Ben Bernanke US Stock FuturesNews Futures Global Pre-Market Outlook Markets

 

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