April 17, 2014 -- 8:30 a.m. - 04/17/14
Stock index futures are suggesting a higher open on Thursday. The Dow and S&P 500 are both up 0.1%. The NASDAQ is trading 0.4% above fair value on Globex.
The major averages are poised to extend their weekly advance following the update on the labor market. Weekly jobless claims rose 2,000 to 304,000, less than a projected increase to 315,000. A report shortly after the open may show activity in the Mid-Atlantic region improved slightly in April. Attention is also on the situation in Ukraine as diplomats meet in Geneva today to discuss the crisis.
On the earnings front, Google is down 1.8% to $553.50 and IBM is falling 4.7% to $187.26 after both companies posted quarterly results below consensus last night. Shares of Goldman Sachs are advancing 2.3% to $160.86 as profits topped analyst projections. Pepsi is gaining 2.1% to $86.16 following its better-than-expected earnings release.
European markets are up at midsession. The FTSE is gaining 0.3% in London. The DAX is 0.5% higher in Frankfurt. Asian markets were modestly lower overnight. The Nikkei was down fractionally in Tokyo, losing less than 0.1% on the session. Chinas Shanghai Composite declined 0.3% in limited trading.
Treasuries are lower after weekly jobless claims rose less than consensus estimates. Benchmark 10-year notes are down 8/32 to yield 2.66%. The bond market will close at 2pm Eastern today for the Easter holiday.
This information is obtained from sources and data considered to be reliable, but its accuracy and completeness is not guaranteed by Wells Fargo Advisors.Wells Fargo Advisors is the trade name used by two separate registered broker-dealers: Wells Fargo Advisors, LLC and Wells Fargo Advisors Financial Network, LLC, Members SIPC, non-bank affiliates of Wells Fargo & Company.