By Barbara Kollmeyer, MarketWatch
NEW YORK (MarketWatch) -- U.S. stock futures rose after the
European Central Bank president Mario Draghi reiterated the bank is
looking to expand its balance sheet to levels not seen since early
2012.
As expected, the central bank left its key interest rates
unchanged, but Draghi's dovish comments helped lift markets.
Aiding futures were stronger-than-expected jobless claims and a
third-quarter climb in productivity.
Shares of Tesla Motors Inc. and Whole Foods Markets Inc. jumped
after issuing earnings reports late Wednesday.
Futures for the Dow Jones Industrial Average (DJZ4) rose 74
points to 17,498, while those for the S&P 500 index (SPZ4)
added 7 points to 2,025.60. Futures for the Nasdaq-100 index (NDZ4)
were up 18 points at 4,160.
News that the Republicans retook the Senate helped pushed the
S&P 500 (SPX) and Dow industrials (DJI) to fresh closing
records on Wednesday. And while history shows that markets tend to
get a boost after the midterm elections, central banks were back in
focus for Thursday. Europe stocks remained lower after the European
Central Bank left rates unchanged.
Need to Know: Gold doesn't stand a chance, but utilities do
ECB in the hot seat: ECB President Mario Draghi reiterated that
ECB policy makers are unanimously committed to using unconventional
measures if needed to maintain price stability. In other words, the
ECB could use outright QE if deemed necessary.
Read: Live blog: ECB's Draghi says risks to eurozone economy
skewed to downside
In economic news, the number of Americans applying for new
jobless benefits lingered below 300,000 for the eighth straight
week amid the lowest level of layoffs in years. U.S. productivity
in the third quarter grew at a 2% annual pace, preliminary data
show, marking the fourth sizable increase in the past five
quarters.
Federal Reserve speakers on the schedule to speak on Thursday:
Chicago Fed President Charles Evans will give welcoming remarks at
17th Annual International Banking Conference at 10:40 a.m. Eastern.
Evans will be a voting member of the Fed policy committee in
2015.
Fed Gov. Jerome Powell will deliver a speech on central clearing
of over-the-counter derivatives at the Chicago Fed's International
Banking Conference at 1:30 p.m. Eastern. And Cleveland Fed
President Loretta Mester, a voting member of the Fed policy
committee, will give a speech in New York at 7:15 p.m. Eastern.
Tesla, Whole Foods among stocks to watch: Tesla (TSLA) was up 5%
in premarket trade after the electric-car maker's results topped
expectations, though it lowered its delivery forecast for 2014.
Whole Foods (WFM) climbed nearly 8% after the upscale grocer
reported a rise in third-quarter earnings and lifted its quarterly
dividend.
The Walt Disney Co. (DIS) , Zynga Inc. (ZNGA) are King Digital
Entertainment PLC (KING) all report earnings on Thursday.
Apple Inc. (AAPL) could draw attention after Palo Alto Networks
Inc. (PANW) said it has discovered a new malware threat that could
threaten millions of Apple Inc. devices.
Other markets: The Nikkei 225 fell 0.9%, pulling back after
gaining more than 10% in the previous five sessions. The losses
came despite a seven-year high for the U.S. dollar (USDJPY) against
the yen, which tapped Yen115 before pulling back. Oil(CLZ4) prices
were steady, while gold(GCZ4) was slightly lower.
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