By Ellie Ismailidou and Carla Mozee, MarketWatch
Yahoo shareholders to meet; Lions Gate to be purchased
U.S. stock futures struggled to make substantial headway
Thursday, as investors assessed whether markets have calmed down
after the U.K.'s Brexit vote prompted a rout followed by a
rebound.
A pullback in crude-oil prices weighed on sentiment, but a
reading of initial U.S. jobless claims
(http://www.marketwatch.com/story/jobless-claims-climb-10000-to-268000-2016-06-30)that
showed that the pace of layoffs nationwide remained extremely low
supported risk appetite.
Investors awaited a speech by a key Federal Reserve policy
maker, St. Louis Fed President James Bullard.
Futures for the Dow Jones Industrial Average were up 6 points to
17,630, and futures for the S&P 500 index were up less than a
point to 2,067. Nasdaq-100 futures rose 2 points, or less than
0.1%, to 4,364.
Futures had turned slightly higher earlier Thursday after
struggling in the red alongside crude-oil prices. Oil prices were
pulling back
(http://www.marketwatch.com/story/oil-prices-ease-after-biggest-gain-in-2-months-2016-06-30)from
their gain on Wednesday, the biggest since early April.
The Dow Jones Industrial Average stands about 320 points away
from recouping
(http://www.marketwatch.com/story/the-dow-is-just-300-points-shy-of-its-pre-brexit-close-2016-06-29)
its losses in the wake of the U.K.'s Brexit referendum last week on
whether the U.K. should exit the European Union. The benchmark on
Wednesday
(http://www.marketwatch.com/story/us-stocks-poised-to-rise-again-as-brexit-worries-fade-2016-06-29)
ended 1.6% higher, while the S&P 500 tacked on 1.7%. The Nasdaq
Composite Index added 1.9%. Thanks to Wednesday's gains, both the
Dow and the S&P turned positive for the year, up 1.6% and 1.3%
respectively.
"Market sentiment seems to be settling down, as the volatility
following last week's Brexit continues to subside," said Richard
Perry, market analyst at Hantec Markets, in a note.
"However, it appears that markets have developed into more of a
consolidation and there will be fears that this could simply have
been an unwinding move that provides another chance to sell," he
added.
Economic docket: Bullard is set to speak at the Society of
Business Economists' annual dinner in London at 3:20 p.m. Eastern
Time. Bullard, a voting member this year on the Federal Reserve's
rate-setting board, said earlier this month the Fed could hold
monetary policy steady
(http://www.marketwatch.com/story/fed-can-sit-on-its-hands-as-current-economic-trends-likely-to-persist-bullard-says-2016-06-17)
considering the trend of tepid 2% growth, along with a low
unemployment rate and subdued inflation.
In the U.K., Bank of England Gov. Mark Carney is set to speak at
4 p.m. local time, or 11 a.m. Eastern.
As for data, a June measure of Chicago-area economic activity,
the Chicago PMI, is due at 9:45 a.m. Eastern.
Stocks to watch:Yahoo Inc.(YHOO) and its CEO, Marissa Mayer,
will be in the spotlight as shareholders hold their annual
meeting.
Shares of Lions Gate Entertainment Corp. (LGF) leapt nearly 7%
premarket following an agreement to be purchased by Starz(STRZA)for
$4.4 billion in cash and stock
(http://www.marketwatch.com/story/lions-gate-starz-shares-soar-after-merger-deal-announced-2016-06-30).
Starz's shares popped up 11% in modest volume.
Wal-Mart Stores Inc.(WMT) said Thursday it's launching Wal-Mart
Pay in 11 more states
(http://www.marketwatch.com/story/wal-mart-launches-walmart-pay-in-more-than-500-stores-2016-06-30),
making its mobile pay service available in more than 500 new
stores.
Darden Restaurants Inc. (DRI), whose chains include Olive Garden
and The Capital Grille, posted a rise in quarterly profit while
sales missed expectations
(http://www.marketwatch.com/story/darden-profit-rises-while-sales-miss-dividend-increased-12-2016-06-30).
Darden did raise its dividend by 12%.
ConAgra Foods Inc.(CAG) shares fell 3.4% in premarket trading
after the company reported fiscal fourth-quarter revenue that
missed expectations.
(http://www.marketwatch.com/story/conagra-foods-shares-slide-after-revenue-miss-2016-06-30)
Liquor and beer maker Constellation Brands Inc. (STZ) ahead of
the bell said fiscal first-quarter 'comparable' per-share earnings
rose to $1.54
(http://www.marketwatch.com/story/constellation-brands-earnings-sales-rise-above-expectations-2016-06-30),
ahead of the FactSet consensus of $1.52 a share. Sales rose to
$1.87 billion, above the FactSet consensus of $1.83 billion.
McCormick & Co. Inc.(MKC) said quarterly earnings excluding
certain items came in at 75 cents a share
(http://www.marketwatch.com/story/mccormick-profit-rises-beats-expectations-2016-06-30).
Analysts had expected 74 cents a share from the spices and herbs
maker, according to a Thomson Reuters poll.
Pier 1 Imports Inc.(PIR) reported a quarterly loss and a decline
in sales
(http://www.marketwatch.com/story/pier-1-imports-joins-in-weak-retail-results-2016-06-29)late
Wednesday, sending shares down more than 6% in after-hours
trading.
(http://www.marketwatch.com/story/oil-gains-more-ground-after-eia-reports-41-million-barrel-fall-in-us-crude-supplies-2016-06-29)Tractor
Supply Co.(TSCO) shares fell late Wednesday after the company's
second-quarter forecast fell short of expectations
(http://www.marketwatch.com/story/tractor-supply-co-warning-sends-stock-sliding-2016-06-29).
The farm-equipment supplier also lowered its annual forecast.
Progress Software Corp.(PRGS) shares rose late Wednesday
following the business software maker's report of
better-than-expected second-quarter earnings
(http://www.marketwatch.com/story/progress-software-stock-gains-on-sales-boost-2016-06-29).
Other markets: Oil prices
(http://www.marketwatch.com/story/oil-prices-ease-after-biggest-gain-in-2-months-2016-06-30)
dropped 2%, trading below $48 a barrel. European stocks slipped
after strong rally on Wednesday.
Read:Brexit backer Boris Johnson won't run to become Britain's
next prime minister
(http://www.marketwatch.com/story/former-london-mayor-boris-johnson-wont-seek-to-replace-british-prime-minister-2016-06-30)
Asian stocks
(http://www.marketwatch.com/story/asian-shares-edge-higher-as-post-brexit-vote-relief-sinks-in-2016-06-30)
ended mostly higher, with Japan's Nikkei Average edging up 0.1% and
Hong Kong's Hang Seng Index gaining 1.8%.
Gold futures were off 0.4% at $1,319 an ounce. The ICE U.S.
Dollar Index pared its loss to less than 0.1%, at 95.767.
(END) Dow Jones Newswires
June 30, 2016 09:17 ET (13:17 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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