By Sara Sjolin, MarketWatch
Exxon Mobil, New York Times earnings on tap
U.S. stock futures pointed to another day in the red Thursday,
ahead of a stream of data that could provide a trigger to build on
the previous session's Federal Reserve-fueled losses.
Investors were also watching the latest raft of corporate
earnings, including results from Exxon Mobil Corp. (XOM), New York
Times Co. (NYT) and Colgate-Palmolive Co. (CL).
Futures for the Dow Jones Industrial Average (YMM5) dropped 40
points, or 0.2%, to 17,9145, while those for the S&P 500 index
(ESM5) lost 3.75 points, or 0.2%, to 2,095.25. Futures for the
Nasdaq 100 index (NQM5) gave up 18.50 points, or 0.1%, to
4,460.75.
The losses add to declines from Wednesday, when the benchmarks
ended a volatile session lower
(http://www.marketwatch.com/storyno-meta-for-guid)after the Fed
left open the possibility of an interest-rate hike as early as June
(http://www.marketwatch.com/story/fed-expects-economy-to-recover-as-it-keeps-rate-options-open-2015-04-29).
The central bank said it wants to see further improvement in the
labor market and have confidence that low inflation is stabilizing
before they raise rates. Sluggish first-quarter growth also took a
toll on stocks.
Data: Investors will get data on both the labor market and
inflation later on Thursday. At 8:30 a.m. Eastern, weekly jobless
claims are due, forecast to show 287,000 Americans filed for
unemployment benefits last week, down from 295,000 the week
before.
The employment-cost index for the first quarter, personal income
and consumer spending for March are also due at 8:30. For
forecasts, .
Core inflation, which is one of the Fed's most closely watched
measures, comes out at 8:30 as well. Consumer-price data for the
eurozone showed earlier on Thursday that the region escaped
negative inflation in April
(http://www.marketwatch.com/story/eurozone-consumer-prices-steady-after-declines-2015-04-30)
after four months of declining consumer prices.
Fed speakers: Governor Daniel Tarullo will speak on community
bank regulation to community bankers association in Washington at
8:30 a.m. Eastern.
Earnings: Reporting ahead of the bell, Exxon MobilCorp.(XOM) is
forecast to post first-quarter earnings of 82 cents
(http://www.marketwatch.com/story/what-to-look-for-in-exxon-earnings-2015-04-28)
a share. Another energy company, ConocoPhillips (COP), reported an
adjusted first-quarter loss of 18 cents, slightly bigger than what
was forecast.
New York Times Co.(NYT) is projected to report first-quarter
earnings of 8 cents a share, according to a consensus survey by
FactSet.
Colgate-Palmolive Co.(CL) said first-quarter sales fell 6%,
slightly missing analyst expectations. The consumer-goods company
also said expects a double-digit decline in full-year earnings per
share. Shares slipped 1.1% ahead of the bell.
Time Warner Cable Inc.(TWC) reported disappointing profit and
revenue for the first quarter.
Viacom Inc.(VIA) reported adjusted second-quarter earnings above
expectations
(http://www.marketwatch.com/story/viacom-beats-profit-expectations-but-misses-on-sales-2015-04-30),
while revenue missed.
After the bell, American International Group
Inc.(AIG)LinkedInCorp.(LNKD) and Visa Inc. (V) are set to report.
Read about what's expected
(http://www.marketwatch.com/story/new-york-times-exxon-aig-linkedin-fireeye-earnings-in-focus-2015-04-30).
Movers and shakers: Shares of Yelp Inc.(YELP) plunged 18% ahead
of the bell after the online review company late Wednesday reported
first-quarter earnings that missed analyst expectations
(http://www.marketwatch.com/story/yelp-reports-slower-growth-profit-and-sales-miss-2015-04-29).
RBC Capital Markets on Thursday cut the stock to sector perform
from outperform, citing the "very negative" quarterly result.
Glu Mobile Inc.(GLUU) leapt 23% premarket after Chinese Internet
company Tencent Holdings Ltd. said it would buy a 14.6% stake in
the mobile-game company for $126 million.
U.S.-listed shares of Alcatel-Lucent(ALU) slumped 5.5% after the
Financial Times reported a major shareholder in the French telecoms
company has criticized the terms of its buyout by Nokia
(http://www.marketwatch.com/story/key-alcatel-lucent-shareholder-calls-nokia-deal-unacceptable-2015-04-30).
U.S.-listed Nokia shares (NOK) lost 6.9%. The company also reported
first-quarter earnings
(http://www.marketwatch.com/story/nokia-profit-falls-but-beats-expectations-2015-04-30).
Other markets: Asian stock markets closed mostly lower
(http://www.marketwatch.com/storyno-meta-for-guid), while European
benchmarks (http://www.marketwatch.com/storyno-meta-for-guid)
struggled for direction.
Crude-oil prices (CLM5) moved 1% higher
(http://www.marketwatch.com/storyno-meta-for-guid) and most metals
declined. The dollar (DXY) traded mixed against other major
currencies (http://www.marketwatch.com/storyno-meta-for-guid).
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