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The number of Americans filing new claims for
unemployment benefits is expected to rise to 275,000 from
265,000 last week. The data will be released at 8:30 a.m. ET.
The dollar index, which has been on a tear, fell to a 5-month
low.
April retail sales data remained unchanged from the prior month
as consumers cut back on spending on big ticket items like cars.
The 10-year Treasury yield eased back from Wednesday's
five-month closing high of 2.28 percent, but analysts say the
momentum in yields remains upwards.
Dow component Cisco fell 1.2 percent to $29 after the company
beat estimates but said spending by telecom customers was not
going to improve in the near future.
Kohl's <KSS.N> shares fell 6 percent to $70 after the department
store operator reported lower-than-expected quarterly same-store
sales, hurt by colder-than-usual weather in February.
Puma Biotechnology <PBYI.N> shares tanked 22.75 percent to $162
in premarket trading after details from a late-stage trial of
its experimental breast cancer pill showed that it improved
disease-free survival for certain patients only by 2.3 months.
Shake Shack <SHAK.N> rose 9.3 percent to $74.78 after the
hamburger chain raised its full-year revenue forecast.
Futures snapshot at 7:25 a.m. ET:
S&P 500 e-minis were up 8.25 points, or 0.39 percent, with
112,006 contracts traded.
Nasdaq 100 e-minis were up 21.5 points, or 0.49 percent, on
volume of 21,543 contracts.
Dow e-minis were up 71 points, or 0.39 percent, with 20,640
contracts changing hands.
(Editing by Saumyadeb Chakrabarty)
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