July jobs report looms
U.S. stocks were set to open moderately higher on Thursday, clawing back some of their losses from the previous session as market participants digested disappointing July employment figures from payroll processing firm ADP.
By 5:10 a.m. ET, futures tied to the blue-chip Dow were marked 67 points, or 0.19% higher to 34,757.
S&P 500 futures rose 9.5 points, or 0.22% to 4,404.25 while the tech-heavy Nasdaq 100 futures advanced 21 points, or 0.14% to 15,095.50.
The modest gains in U.S. stock futures come following a sell-off on Wednesday after a report released by ADP showed that private employers added 330,000 jobs in July, well below the 653,000 additions that economists expected.
The ADP report precedes Friday’s official jobs report from the U.S. Labor Department jobs, which is expected to show July unemployment rate dipped to 5.7% from 5.9% in June.
The department is also scheduled to publish its weekly report on initial jobless claims data today at 8:30 a.m. ET.
Uber sinks after wider-than-expected loss
Uber Technologies (NYSE: UBER) shares fell 4.45% early Thursday after the ride-hailing giant reported a bigger-than-expected second quarter loss.
The company posted an EBITDA loss of $509 million, down from a loss of $837 million last year but wider than the $321.7 million that analysts expected
However, Uber surpassed estimates with earnings of $1.1 billion or 58 cents per share on revenue of $3.9 billion.
Analysts expected the company to post a loss of 51 cents on revenue of $3.75 billion.
EA stock jumps on upbeat earnings
Electronic Arts (NASDAQ: EA) shares popped 3.36% in premarket trade Tuesday, after the company beat first-quarter earnings estimates.
The videogame maker said earnings decreased 43.20% on a year-over-year basis to $204 million, or 71 cents per share. Revenue came in at $1.336 billion, down 8.43% from the same period a year ago.
Analysts had called for earnings of 62 cents per share and revenue of $1.280 billion.
EA chief financial officer Blake Jorgensen said in a press release that the company is raising its outlook for the full year based on its strong performance this quarter and supported by its ongoing confidence in live services.
“Our strategic position has never been stronger, with growth drivers in place for this year, next year, and beyond,” Jorgensen added.
