A reversal of sentiment may be on the cards on Thursday, as indicated by the U.S. index futures, which point to a higher open. Asian stocks closed on a mixed note, while the European markets are holding ground despite the release of mostly disappointing domestic earnings. A positive German business confidence has served to preserve the recent positive momentum. It remains to be seen if the jobless claims data from this side of the Atlantic corroborate the economy's health and aid buying.
As of 6:30 am ET, the Dow futures are rising 16 points, the S&P 500 futures are adding 0.60 points and the Nasdaq 100 futures are advancing 5.25 points.
Macroeconomic concerns and mixed earnings rendered the mood cautious on Wednesday, sending stocks lower.
On the economic front, the Labor Department is due to release its customary jobless claims report for the week ended February 18th at 8:30 am ET. Economists expect claims to edge up to 355,000 from 348,000 for the previous week.
The Federal House Finance Agency, or FHFA, is set to release its house price index for November at 10 am ET. Economists expect a 0.2 percent month-over-month increase in the house price index.
Additionally, the Energy Information Administration is scheduled to release its weekly petroleum inventory report for the week ended February 17th at 10:30 am ET. An inventory report released by the American Petroleum Institute late Wednesday showed that crude oil stockpiles rose by 3.55 million barrels in the recent reporting week.
In corporate news, Hewlett-Packard's fourth quarter earnings and revenues fell from the year-ago period. Although earnings exceeded estimates, revenues were below estimates. The company reiterated its 2012 earnings guidance, which however was below estimates.
Analog Devices (ADI) announced a 20 percent increase in its quarterly dividend to $0.30 per share. The company's first quarter results trailed estimates, while its second quarter guidance was also below expectations.Express Scripts (ESRX) reported fourth quarter adjusted earnings of 82 cents per share, missing the 85 cents per share consensus estimate.
Fluor (FLR) reported fourth quarter earnings that exceeded estimates, while revenues were slightly shy of estimates. The company reiterated its 2012 earnings guidance that surrounds the consensus estimate.
SM Energy (SM) reported better than expected fourth quarter results.DryShips (DRYS) reported fourth quarter adjusted earnings, in line with estimates, while revenues also exceeded expectations.
Cimarex (XEC) announced an increase in its dividend to 12 cents per share from 10 cents per share.
Limited Brands' (LTD) fourth quarter results were better than expected. The company also announced that its board has authorized a new $500 million stock buyback program. For 2012, the company y expects earnings of $2.60-$2.80 per share, below the consensus estimate of $2.91 per share.
Autodesk (ADSK), Century Aluminum (CENX), Crocs (CROX), Deckers Outdoor (DECK), First Solar (FSLR), Gap (GPS), HealthSouth (HLS), Live Nation (LYV), Marvell (MRVL), Nordson (NDSN), Public Storage (PSA), Salesforce.com (CRM) and TiVo (TIVO) are some of the prominent companies due to release their earnings after the markets open.
The major Asian markets went about in a listless manner after Wall Street stocks closed in the red in the previous session. The averages in the region ended on a mixed note. Japan's Nikkei 225 average continued to benefit from a weaker yen, ending up 41.57 points or 0.44 percent at 9,596.
Meanwhile, Australia's All Ordinaries closed at 4,368, down 4.60 points or 0.11 percent. Material stocks retreated modestly, offsetting the optimism in the energy space. The Hong Kong's Hang Seng Index slipped 168.29 points or 0.78 percent before closing at 21,381.
The major European markets are trading mixed after yesterday's retreat. The German DAX Index is down 0.44 percent, while the U.K.'s FTSE 100 Index is up 0.16 percent and France's CAC 40 index is rising marginally.
In corporate news, Commerzbank reported a 23 percent increase in fourth quarter profits and also said it is buying back hybrid securities to meet capital norms.
Meanwhile, Dexia reported a loss for 2011, weighed down by its holding of Greek bonds and restructuring charges. Credit Agricole reported a loss of 3.07 billion euros for the fourth quarter due to Greek writedowns.
Hit by impairment losses in the U.S. and Europe, Deutsche Telecom (DT) also reported a loss of 1.34 billion euros for its fourth quarter. U.K.'s Royal Bank of Scotland (RBS) reported a 2 billion pound loss for 2011, with results marred by weakness in its investment banking unit and Greek debt writedowns.
A report released by the Ifo Institute showed that German business climate improved for the fourth straight month in February. The business climate index rose 1.3 points to 109.6 points, representing a 7-month high. The index also came in above estimates.
The euro and the other risk currencies have gained ground following the release of the German business confidence data. Meanwhile, commodities have also seen strength.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.