By Carla Mozee, MarketWatch
LONDON (MarketWatch) -- U.S. stock futures flatlined Thursday as
markets awaited a report expected to show a large drop for
durable-goods orders.
Futures for the Dow Jones Industrial Average (DJZ4) were up 1
point at 17,140 while those for the S&P 500 index (SPZ4) gave
up less than 1 point to 1,990.10. Futures for the Nasdaq-100 index
(NDZ4) lost 2.75 points to 4,088.25. (Read more in Need to Know:
http://www.marketwatch.com/story/a-counter-intuitive-collapse-in-oil-could-see-prices-drop-to-70-a-barrel-or-even-40-2014-09-25.)
In addition to economic data, Atlanta Fed President Dennis
Lockhart will speak in what's been a public appearance blitz for
Fed members.
On Wednesday, investors welcomed dovish remarks by Chicago
Federal Reserve President Charles Evans and Cleveland Fed President
Loretta Mester. The S&P 500 (SPX) and Dow Jones Industrial
Average (DJI) logged their best one-day percentage gain in more
than five weeks, with stocks also finding support after a
stronger-than-expected report on new-home sales.
Bracing for data:August orders for U.S. durable goods, due from
the Commerce Department at 8:30 a.m. Eastern, are expected to fall
17.3%. Such a drop would come after July's nearly 23% leap, driven
by new contracts for Boeing jets.
Excluding aircraft and automobiles, August durable-goods orders
could come in higher by at least 1%. "With fears running rife that
the Fed may act too hastily in hiking interest rates, if this
number comes in below forecast then we could well see traders given
the excuse to book profits off the back of yesterday's gains," said
Joao Monteiro, analyst at Valutrades, in a note.
Also at 8:30 a.m., the Labor Department is expected to report
weekly initial jobless claims edged slightly higher after falling
280,000 in the second week of September. Claims, which are a proxy
for layoffs, are near the lowest level since early 2006.
Investors will then turn attention to Lockhart's speech on the
economic outlook to the Mississippi Council for Economic Education
at 1:20 p.m. Eastern. Lockhart is a voting member of the Fed policy
committee this year.
Stocks to watch: Jabil Circuit (JBL) shares rose 6% in low,
premarket volume after the electronics manufacturer's quarterly
results and outlook topped Wall Street estimates late
Wednesday.
Apple (AAPL) shares were down 0.7% premarket. The company on
Wednesday said it pulled an update to its iOS 8 operating system
following reports about major update issues with from
consumers.
Publisher Scholastic (SCHL) ahead of the bell reported a wider
first-quarter loss as sales missed expectations.
Boston Scientific (BSX) was hit with a $308 million judgment in
a royalty dispute, the medical device maker announced on
Wednesday.
H.B. Fuller (FUL) slid more than 10% in late trade Wednesday
after the paint, chemicals and adhesives company's third-quarter
earnings missed expectations.
Other markets: Japan's Nikkei Average surged 1.3% as the yen
weakened. Meanwhile, the euro (EURUSD) was at its lowest level
since 2012 against the dollar following European Central Bank
President Mario Draghi's comments about extra policy steps.
European stocks took cures from Draghi in comments left the door
open for further eurozone easing. Gold futures(GCZ4) fell and oil
futures(CLX4) slipped.
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