U.S. stock futures point to a higher opening Thursday morning as traders await economic data related to weekly jobless claims and trade data for further cues on the economy.
As of 6.15 am ET, the Dow futures were up 24.00 points, the S&P futures were up 3.40 points, and the tech-heavy Nasdaq 100 futures were up 3.75 points.
On the economic front, traders will focus on the weekly jobless claims for the week ended December 5, slated for release by the Labor Department at 8.30 a.m ET. Economists expect that the weekly jobless claims increased marginally to 465,000 from 457,000 reported for the preceding week.
Traders will also digest the trade gap data for October, scheduled for release at 8:30 AM ET. Economists estimate that the trade gap widened to $36.8 billion in the month.
Also on tap would be the Treasury Budget, a monthly account of the surplus or deficit of the federal government, slated for release at 2 PM ET. Economists estimate that the deficit narrowed to $131.6 billion for November.
Traders might also react to the Bank of England's interest rate decision.
Web services provider AOL, Inc. (AOL), spun-off from media and entertainment giant Time Warner, Inc. (TWX) will make its trading debut on the New York Stock Exchange under the ticker symbol "AOL" later in the day.
Earlier in the day, RealtyTrac, releasing its November 2009 U.S. Foreclosure Market Report, said foreclosure filings during November increased 18% from the previous year, while it declined 8% from the last month. According to the report, foreclosure filings were reported on 306,627 U.S. properties during the month. As per the report, one in every 417 U.S. housing units received a foreclosure filing in November.
Membership warehouses operator Costco Wholesale Corp. (COST) said that it had posted a slight increase in its first-quarter net profit on improved sales, which, however were offset by strong U.S. dollar and lower gasoline prices. On a per share basis, earnings remained flat with last year and came in line with the Street view.
Oil Light sweet crude oil price for January delivery is presently quoted at $70.92 a barrel, up $0.25 from its previous close of $70.67 a barrel in New York on Wednesday.
Dollar The US dollar is presently gaining against the yen, but trading weaker against the euro and the pound.
World Markets Mixed trading was witnessed among the markets in Asia as traders preferred to stay on the sidelines in the aftermath of debt concerns in Greece following the Dubai financial crisis. While the markets in India, China, Indonesia and South Korea ended in positive territory, markets in Australia, Japan, Hong Kong and Singapore ended in negative territory. The European markets are presently trading in positive territory.
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