Futures Edge Higher But Europe Data May Be Wet Blanket On Any Rally


US Futures were slightly higher Thursday morning but weak economic data out of Europe has been a wet blanket on buyer momentum, which is disappointing considering the solid earnings that came out on Wednesday.

Business growth in Europe barely expanded according to a report released this morning.

HS Markit’s Flash Composite Purchasing Managers’ Index sank to 50.7, its weakest since July 2013, from a final December reading of 51.1, below even the most pessimistic forecast in a Reuters poll where the median expectation was for a modest rise to 51.4.

Some big names are set to release earnings today with American Airlines ($AAL) and Union Pacific ($UNP) reporting before the market open while Starbucks ($SBUX) and Intel ($INTC) report after market close.