Eyes on January CPI data
U.S. stock futures traded mixed on Thursday morning as Wall Street preps for U.S. inflation print and weekly jobless claims report.
Both economic reports are scheduled for release at 8:30 a.m. ET. On average, economists polled by the Wall Street Journal expect the January consumer price index (CPI), to show have increased 7.2% on a year-over-year basis in January after rising to a 39-year high of 7% in December.
Core CPI, which excludes volatile energy and food prices, is also expected to have jumped 5.9% year-over-year in January versus 5.5% in December.
Meanwhile, the weekly report on initial jobless claims is expected to show initial jobless claims dropped to 230,000 in the week ended Feb. 5 from 238,000 during the previous week.
Continuing claims for the week ended Jan. 29 are expected to come in at 1.615 million compared with 1.628 million a week earlier.
As of 5:10 a.m. ET, futures tied to the blue-chip Dow were up 7 points to 35,648. S&P 500 futures fell 10.5 points, or 0.23% to 4,567.25 while the tech-heavy Nasdaq 100 futures lost 55.5 points, or 0.37% to 14,982.75.
Disney posts upbeat earnings as theme parks roar back in Q1
Moving to corporate earnings, shares of Disney (NYSE: DIS) are popping after the company reported better-than-expected first-quarter financial results late Wednesday.
The entertainment giant said had adjusted earnings of $1.06 per share in the holiday quarter ended Jan. 1, topping expectations of 61 cents per share.
Revenue stood at $21.82 billion, up 34% and above estimates of $20.91 billion. Disney attributed the revenue growth to more guests attending its theme parks, booking cruises, and staying in its branded hotels.
Disney+, the company’s streaming service, saw total subscribers climb to 129.8 million well above analysts’ forecast of 125 million.
As of writing, Disney stock was up $11.04, or 7.50% to $158.27 per share in the premarket trading session Thursday.
Twitter, PepsiCo, and Coca-Cola earnings on tap
Traders are also awaiting more earnings reports today, with Twitter (NYSE: TWTR), PepsiCo (NYSE: PEP), Coca-Cola (NYSE: KO) scheduled to report ahead of the bell.
Analysts expect Twitter to come out with earnings of 35 cents per share on revenue of $1.58 billion.
PepsiCo is expected to post earnings of $1.52 per share on revenue of $24.22 billion. Coca-Cola is seen reporting earnings of 41 cents per share on revenue of $8.96 billion.
AstraZeneca (NASDAQ: AZN), Expedia (NYSE: EXPE), Zillow (NYSE: Z), Aurora Cannabis (NASDAQ: ACB), and Philip Morris (NYSE: PM) will also announce their results today.