A Peek Into The Markets: US Stock Futures Flat Ahead Of Jobless Claims Data

Pre-open movers

U.S. stock futures traded flat in early pre-market trade.

The Challenger job-cut report for March is schedule for release at 7:30 a.m. ET, while data on initial jobless claims for the latest week will be released at 8:30 a.m. ET. New York Federal Reserve Bank President John Williams is set to speak in New York at 9:00 a.m. ET, while Philadelphia Federal Reserve Bank President Patrick Harker will speak in Philadelphia, PA at 1:00 p.m. ET. Cleveland Federal Reserve Bank President Loretta Mester is set to speak in Columbus, Ohio at 1:00 p.m. ET.

Futures for the Dow Jones Industrial Average rose 1 point to 26,241, while the Standard & Poor’s 500 index futures were flat at 2,879.75. Futures for the Nasdaq 100 index fell 4 points to 7,577.75.

Oil prices traded higher as Brent crude futures rose 0.2 percent to trade at $69.43 per barrel, while US WTI crude futures rose 0.2 percent to trade at $62.60 a barrel. The Energy Information Administration’s weekly report on natural gas stocks in underground storage is schedule for release at 10:30 a.m. ET.

A Peek Into Global Markets

European markets were mostly lower today, with the Spanish Ibex Index rising 0.3 percent, STOXX Europe 600 Index dropping 0.3 percent and German DAX 30 index gained 0.2 percent. The UK's FTSE index was trading lower by 0.4 percent, while French CAC 40 Index fell 0.2 percent.

In Asian markets, Japan’s Nikkei Stock Average rose 0.05 percent, Hong Kong’s Hang Seng Index declined 0.17 percent, China’s Shanghai Composite Index rose 0.94 percent and India’s BSE Sensex fell 0.49 percent.

Broker Recommendation

Analysts at Morgan Stanley downgraded Micron Technology, Inc. MU from Equal-Weight to Underweight.

Micron shares fell 3.3 percent to $42.46 in pre-market trading.

Breaking News

• RPM International Inc. RPM reported upbeat results for its third quarter.
• Landec Corporation LNDC reported upbeat earnings for its third quarter, while sales missed estimates. The company projects full-year earnings of $0.15 to $0.18 per share.
• AVEO Pharmaceuticals, Inc. AVEO reported a common stock offering. Size of the offering was not disclosed.
• Resources Connection, Inc. RECN reported weaker-than-expected results for its third quarter on Wednesday.