The U.S. stock futures point to a slightly lower opening Thursday morning as traders look for economic data related to trade deficit, and weekly jobless claims to get some cues on the employment situation.
Strong resilience and optimism displayed by traders despite the lack of economic cues for the past three days will be tested amid anxiety over probable Chinese action in response to strong inflation data and U.S. jobless claims data. Global cues are mixed.
As of 6:15 am ET, the Dow futures were down 4.00 points, the S&P futures were down 1.70 points, and the tech-heavy Nasdaq 100 futures were down 2.00 points.
On the economic front, the Labor Department will release the customary weekly jobless claims for the week ended March 6 at 8.30 a.m. ET. Economists expect that weekly jobless claims to decline by 9,000 to 460,000 from 469,000 reported for the previous week.
The Bureau of Economic Analysis will release the trade balance data for January at 8.30 a.m. ET. Economists expect that trade deficit widened by a small margin to $41.0 billion for the month, following a trade deficit of $40.2 billion in December.
Earlier in the day, RealtyTrac, an online marketplace for foreclosure properties stated that foreclosure filings rose 6% in February compared to last year, but declined 2% from the previous month. Nevada, Arizona and Florida reported top state foreclosure rates during the month.
In other corporate news, Devon Energy Corp. (DVN) said that it has entered into agreements to sell its assets in the deepwater Gulf of Mexico, Brazil and Azerbaijan to British oil giant BP plc (BP: News ,BP.L: News ) for $7.0 billion.
After the market closed for trading in the previous session, fabric and crafts retailer Jo-Ann Stores, Inc. (JAS) reported a surge in its fourth quarter profit, driven by same-store sales growth, improved margins due to reduced product costs from global sourcing initiatives, lower clearance levels and reduced freight costs. Earning for the quarter breezed ahead of Street estimates, as did revenues. Looking ahead, the company provided its earnings forecast for fiscal year 2011.
Children's apparel retailer Gymboree Corp. (GYMB) said that its profit for the fourth quarter increased by 12.5% over last year, helped by higher sales and improved margins. Quarterly earnings came in ahead of analysts' expectations, but sales fell short of estimates. Further, the company said it plans to launch the Gymboree retail brand in the Middle East, with first store to be opened in Dubai during the third fiscal quarter of 2010.
Men's Wearhouse, Inc. (MW) said that it swung to a fourth quarter loss, hurt by lower sales and an asset impairment charge. However, the company's adjusted loss per share was better than what analysts predicted. The apparel retailer reported a GAAP net loss for the fourth quarter of $18.9 million or $0.36 per share, compared to GAAP net income of $1.5 million or $0.03 per share for the year-ago quarter.
Oil Light sweet crude oil for April delivery is presently quoted at $82.26 a barrel, up $0.17 from its previous close of $82.09 a barrel in New York on Wednesday. Dollar The U.S. dollar is presently trading higher against the Euro, but showing weakness against the yen and the pound
World Markets The markets across Asia ended in positive territory, but off the highs as traders expressed anxiety over Chinese inflation data. While the Japanese market surged on the yen's weakness and expectations of monetary easing measures, the other markets pared early gains and ended marginally higher. Mixed trading is being witnessed among the markets in Europe.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.