By Barbara Kollmeyer, MarketWatch
Weekly jobless claims, home sales ahead
MADRID (MarketWatch) -- Shares of Ford Motor Co. and McDonald's
Corp. led the early charge for U.S. stock futures on Thursday,
pointing to a rebound for markets after losses endured this
week.
On deck later today is weekly jobless claims and home-sales
data.
Futures for the Dow Jones Industrial Average (DJH5) rose 88
points, or 0.5%, to 17,188, while those for the S&P 500 index
(SPH5) added 9.10 points to 2.000.50. Futures for the Nasdaq-100
index (NDH5) gained 9.75 points, or 0.2%, to 4,134.
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 tumbling. 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.
Corporate moves: McDonald's (MCD) gained over 3% 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.
Alibaba Group Holding Ltd. (BABA) shares dove 6% in premarket
trade after worse -than-expected sales gains.
Coach Inc.(COH) shares popped on better-than-expected domestic
sales.
Ford(F)(F) shares rose 2% after the automaker posted
results.
Shares of Facebook (FB) were up 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 another 9% after falling in
late trade on an outlook-cut from the chip maker.
ConocoPhilips(COP), Callway Golf Co.(ELY) and Harley-Davidson
Inc.(HOG) are still to come. Amazon.com Inc.(AMZN) and Google
Inc.(GOOG) are coming after the close.
Overseas markets: European stocks came under moderate pressure
-- 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) were flat after nearing six-year lows, while
gold (GCG5) prices fell over 1% to $1,269.80 an ounce. The dollar
(DXY) drifted lower. In Asia, the Nikkei 225 retreated on earnings
and Fed rate-hike worries.
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