By Sara Sjolin, MarketWatch
Shake Shack rallies after well-received earnings report
U.S. stock futures pointed to an upbeat trading day on Wall
Street Thursday, ahead of economic data that could further weaken
the case for an imminent Federal Reserve rate hike.
Futures for the Dow Jones Industrial Average (YMM5) climbed 72
points, or 0.4%, to 18,087, while those for the S&P 500 index
(ESM5) added 8.75 points, or 0.4%, to 2,103.50. Futures for the
Nasdag 100 index (NQM5) gained 22.25 points, or 0.5%, to 4,446.
The gains come after U.S. stocks closed virtually unchanged
(http://www.marketwatch.com/story/us-stocks-poised-to-break-two-day-losing-streak-2015-05-13)
on Wednesday, as early gains faded by the end of the trading day.
The benchmarks had initially traded higher, after disappointing
U.S. retail sales prompted investors to bet that the Fed would
delay interest-rate increases this year.
The data also sent the dollar sharply lower -- a rout it
continued
(http://www.marketwatch.com/story/dollar-index-slides-to-lowest-since-january-2015-05-14)
on Thursday. Read: Weakening dollar may boost second-quarter
earnings
(http://www.marketwatch.com/story/strengthening-dollar-may-boost-second-quarter-earnings-2015-05-13)
Data: Economic indicators due for release Thursday will be
assessed in light of the rate-rise debate. Weekly jobless claims
are due at 8:30 a.m. Eastern Time. The data are expected to show
275,000 Americans filed for unemployment benefits last week, an
increase of 10,000 over the previous week.
The producer-price index for April is also due at 8:30 a.m.
Eastern Time, forecast to be flat for the month.
"U.S. PPI [is] looking largely flat, adding to worries from
recent weak data that Q2 may not be as strong as many were
anticipating and the U.S. might not be ready for interest-rate
rises just yet," said analysts at Accendo Markets in a note.
There are no Federal Reserve speakers scheduled for Thursday.
Read: Fed's rate-hike path, not timing, is what matters, says
Schwab strategist
(http://www.marketwatch.com/story/schwab-strategist-says-hike-path-not-timing-is-what-to-focus-on-2015-05-13)
Earnings: Reporting ahead of the bell, Kohl's Corp.(KSS) is
expected to report first-quarter earnings of 55 cents a share on
revenue of $4.19 billion, according to analysts surveyed by
FactSet.
After the bell, Nordstrom Inc.(JWN), Applied Materials
Inc.(AMAT), King Digital Entertainment PLC(KING) and El Pollo Loco
Holdings Inc.(LOCO) are slated to report.
Movers and shakers: Shares of Shake Shack Inc.(SHAK) jumped 7.4%
premarket after the burger chain late Wednesday reported
first-quarter results that topped estimates from Wall Street
analysts
(http://www.marketwatch.com/story/shake-shack-raises-revenue-outlook-after-loss-2015-05-13).
Cisco Systems Inc.(CSCO) slipped 0.2% ahead of the bell after
reporting a first-quarter loss
(http://www.marketwatch.com/story/jc-penney-loss-narrows-sales-rise-2015-05-13)
on Wednesday.
Other markets: European markets were mixed
(http://www.marketwatch.com/storyno-meta-for-guid), as were Asian
bourses
(http://www.marketwatch.com/story/australian-shares-fall-on-iron-ore-weakness-2015-05-13-231034025)
at the close. Metals dropped across the board, while crude oil
(CLM5) moved slightly lower
(http://www.marketwatch.com/storyno-meta-for-guid).
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