Weak open ahead for stocks as traders eye jobs data and earnings

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Stock futures fall

U.S. stock futures were pointing to a negative open for stocks on Thursday, ahead of weekly claims data and another slew of earnings.

At around 5:20 a.m. ET, futures for the Dow Jones Industrial Average dropped 4 points, or 0.1% to 4,152.25 while the tech-focused Nasdaq 100 futures lost 14.25%, or 0.11% to 13,257.25

All three major stock indices closed higher on Wednesday, with the Dow gaining more than 400 points to end at 32,815.

The S&P 500 rose 1.56% to finish at 4,155, its highest mark since June. The Nasdaq Composite closed at 12,668, up 319 points, or 2.59%.

Earnings deluge continues

Markets are also keeping a keen eye on the June quarter earnings season, with more companies set to report today.

Some highlights for the day include: Alibaba (BABA), Eli Lilly (LLY), Lyft (LYFT), Block (SQ), DoorDash (DASH), Beyond Meat (BYND), AMC Entertainment (AMC), Virgin Galactic (SPCE), Wayfair (W), Datadog (DDOG), and Dropbox (DBX).

Alibaba is seen reporting earnings of $1.52 per share on revenue of $30.05 billion ahead of the market open.

Eli Lilly also reports before the bell and is excepted to post quarterly earnings of $1.69 per share on revenue of $6.70 billion.

Analysts expect Lyft to report a loss of 4 cents per share on revenue of $989 million after the market close.

Block is likely to report earnings of 17 cents per share on revenue of $4.35 billion after the bell.

Jobless claims data on tap

Also in the spotlight will be the weekly jobless claims report, due at 8:30 a.m. ET.

The data will show the number of Americans that filed for first-time unemployment benefits in the week ended July 2.

Expectations are for the report to show claims rose to 259,000, compared to 256,000 in the prior week.

The weekly jobless claims data comes ahead of the monthly jobs report, which will be released on Friday morning.

Economists surveyed by the Wall Street Journal expect the economy to have added 250,000 jobs in July down from 372,000 in the prior month.

The rate of unemployment is expected to remain unchanged at 3.6% for the fifth consecutive month.

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