By Barbara Kollmeyer, MarketWatch
Qualcomm, McDonald's may also be active
MADRID (MarketWatch) -- U.S. stock futures pointed to moderate
gains for Wall Street on Thursday, as investors look ahead to key
corporate results to help markets regain ground after losses this
week.
Ford Motor Co. and ConocoPhilips will report ahead of the open,
while Facebook Inc. and McDonald's Corp. could be active after
reporting earnings and a corporate shuffle, respectively.
Futures for the Dow Jones Industrial Average (DJH5) rose 55
points, or 0.3%, to 17,155, while those for the S&P 500 index
(SPH5) added 4.4 points to 1,996. Futures for the Nasdaq-100 index
(NDH5) gained 5.75 points to 4,130.25.
Wednesday's statement from the Federal Reserve's policy-making
committee implied a midyear hike is still a possibility. Read as
some by hawkish, that view was enough to send Treasurys and the
dollar higher, and stocks in the other direction. The S&P 500
index(SPX) lost 1.4%, and even the Nasdaq Composite (RIXF) fell
0.9% as a big gain by Apple Inc. (AAPL) wasn't enough to keep it in
the green.
Panic appeared to be receding somewhat on Thursday, though.
"Traders are penciling in June for a rate rise from the U.S.
central bank, but if energy prices remain weak, it could be pushed
further out," said David Madden, market analyst at IG.
"The U.S. recovery is going to plan, but the Fed's decision will
be influenced by factors outside its control," he said in a
note.
Weekly jobless-claims data is coming at 8:30 a.m. Eastern Time,
with pending-home sales for December coming at 10 a.m. Eastern.
Ford, Facebook: Ford(F)(F) and ConocoPhilips(COP) are expected
to report earnings ahead of the bell, as are Viacom Inc. (VIA),
Callway Golf Co.(ELY) and Harley-Davidson Inc.(HOG). Amazon.com
Inc.(AMZN) and Google Inc.(GOOG) are coming after the close.
Shares of Facebook(FB) were under 1% lower in thin, premarket
trade, after the social-networking company on Wednesday reported
results that were slightly above consensus.
Qualcomm Inc.(QCOM) shares skidded 8% after the chip maker cut
its outlook.
McDonald's (MCD) could add to a nearly 3% late-session gain
after the fast-food giant announced that President and CEO Don
Thompson will retire March 1, and Chief Brand Officer Steve
Easterbrook will take his place.
Overseas markets: European stocks came under moderate pressure
-- the the oil and gas group in particular. Shares of Royal Dutch
Shell PLC (RDSA) (RDSB) fell 4% after the company said it plans to
cut capital expenditure by about $15 billion over the next three
years.
Oil prices (CLH5) edged up from nearly six-year lows, while gold
(GCG5) prices fell nearly 1% to $1,275 an ounce. The dollar (DXY)
drifted lower. In Asia, the Nikkei 225 retreated on earnings and
Fed rate-hike worries.
Subscribe to WSJ: http://online.wsj.com?mod=djnwires