By Barbara Kollmeyer, MarketWatch
Salesforce.com, Kohl's among stocks in focus
MADRID (MarketWatch) -- U.S. stock futures pointed to meager
gains for Wall Street on Thursday, as investors pivoted from
parsing comments from Federal Reserve Chairwoman Janet Yellen's
testimony to watching for consumer-price report that factors
central to the debate about the pace of interest rate hikes.
More retailers will roll out reports Thursday, with Kohl's Corp.
the biggest to report ahead of the bell.
Futures for the Dow Jones Industrial Average (DJH5) rose 15
points to 18,209, while those for the S&P 500 index (SPH5)
added 2.2 points to 2,112.40. Futures for the Nasdaq-100 (NDH5)
gained 6.25 points to 4,443.
Read: Stock gains are making us dangerously complacent
(http://www.marketwatch.com/story/stock-market-gains-are-making-us-dangerously-complacent-2015-02-25)
The Dow industrials was the only big index to close at a record
on Wednesday, though it managed just a 0.1% gain. Markets gained as
Yellen gave her second day of testimony before Congress, though
those rises largely faded. The Nasdaq Composite (RIXF) finished
down 0.02%, breaking its 10-day winning streak.
Two important pieces of data are coming, both at 8:30 a.m.
Eastern time: The consumer-price index and durable goods, both for
January.
Of this data, the CPI will get the most attention, and some
forecasters expect a headline negative rate for the first time
since 2009. "The Fed are among those who have not predicted
inflation very well, and our main issue with a rate rise this
summer is that it might be based on faulty forecasts of a recovery
in inflation," said Jim Reid, strategist at Deutsche Bank, in a
note to investors.
"Yes, it might happen, but the certainty must be low at the
moment. Surely it's best to wait for a bit more evidence first,"
said Reid.
Read: Opinion: Company executives are betting on this bull
market
(http://www.marketwatch.com/story/company-executives-are-betting-on-this-bull-market-2015-02-25)
(http://www.marketwatch.com/story/company-executives-are-betting-on-this-bull-market-2015-02-25)Also
coming, at 9 a.m. Eastern Time, is the release of the Federal
Housing Finance Agency home-price index for December.
Stocks in focus: Shares of UIL Holdings Corp.(UIL) rose 16% in
premarket trading after Spanish utility Iberdrola ES announced
plans to buy the power and gas distributor in a $3 billion cash and
shares deal
(http://www.marketwatch.com/story/iberdrola-to-buy-uil-holdings-for-3-billion-in-shares-cash-2015-02-26).
Shares of Salesforce.com Inc
(http://www.marketwatch.com/story/salesforce-posts-strong-growth-in-deferred-sales-2015-02-25-164855910).(CRM)
rose 11%. Late Wednesday, the software maker posted strong growth
in deferred sales, which measures its future sales from a
subscription-based business model.
Sears Holdings Corp. (SHLD) posted continuing quarterly sales
losses
(http://www.marketwatch.com/story/sears-targets-reit-formation-in-may-or-june-2015-02-26-6485296),
while announcing that it has been successful in setting the stage
to convert 200 to 300 of its stores, including Kmart locations,
into a real-estate investment trust, which could generate $2
billion in profit.
Kohl's (KSS) shares rose 1.4% after the retailer beat profit and
sales estimates and raised its dividend. SeaWorld Entertainment Inc
(http://www.marketwatch.com/story/what-to-expect-from-seaworlds-earnings-2015-02-25).(SEAS)
wast' budging after its loss per share was worse than expected.
Herbalife Ltd.(HLF), J.C. Penney Co. Inc.(JCP), Gap Inc.(GPS)
and Ross Stores Inc.(ROST) will report after the close.
Read: Herbalife, J.C. Penney, Kohl's earnings in focus
(http://www.marketwatch.com/story/herbalife-jc-penney-kohls-earnings-in-focus-2015-02-26)
(http://www.marketwatch.com/story/herbalife-jc-penney-kohls-earnings-in-focus-2015-02-26)Other
markets:European stocks
(http://www.marketwatch.com/story/european-stocks-rise-as-german-unemployment-falls-2015-02-26)
got a small lift from news of a fall in German unemployment, while
Japanese stocks
(http://www.marketwatch.com/story/japan-stocks-touch-15-year-high-again-2015-02-26)
once again touched a 15-year high. Gold
(http://www.marketwatch.com/story/gold-puts-janet-yellen-in-rearview-mirror-moves-higher-2015-02-26)(GCJ5)
was looking at a second day of gains, up another $18 to $1,219.50
an ounce. Oil
(http://www.marketwatch.com/story/oil-gives-back-some-gains-as-investors-weigh-up-supply-2015-02-26)
futures (CLJ5) pulled back in the wake of Wednesday's higher
prices.
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