Futures slip ahead of
Send a link to a friend
[May 11, 2017]
By Yashaswini Swamynathan
stock index futures were slightly lower on Thursday ahead of a set of
earnings from big U.S. retailers, including Macy's and Nordstrom.
* The surprise sacking of FBI Director James Comey by President Donald
Trump on Tuesday sparked a risk-off mood in the market over worries that
a potential fallout from the move could distract the president from
pursuing his plans to cut taxes.
* The dollar declined against a basket of six major currencies, while
prices of safe-haven gold strengthened.
* U.S. retail companies will be in focus on Thursday, with earnings from
Macy's and Nordstrom expected to set the tone for other retailers.
* A report is likely to show unemployment claims rose to 245,000 last
week. Also due is a reading of the producer price index for April. Both
reports are due at 8:30 a.m. ET.
* Oil prices rose to a one-week high amid falling U.S. inventories.
* The Dow fell slightly, while the S&P 500 and the Nasdaq edged up on
Wednesday as investors digested the Comey ouster and a batch of weak
earnings. Nasdaq also closed at a record high.
* Shares of Snapchat owner Snap Inc plunged 22 percent in heavy
premarket trading after the company reported a slowdown in user growth
and revenue in its first earnings report as a public company.
[to top of second column]
Traders work on the floor of the New York Stock Exchange (NYSE) in
New York, U.S., May 10, 2017. REUTERS/Brendan McDermid
* Straight Path plunged nearly 22 percent to $175.95 after
agreeing to be bought by Verizon for $184 per share and terminated
an earlier deal with AT&T.
* Whole Foods was up 3.4 percent after the grocer shook up its board and
appointed a new CFO.
Futures snapshot at 6:53 a.m. ET:
* Dow e-minis were down 19 points, or 0.09 percent, with 9,656 contracts
* S&P 500 e-minis were down 3.75 points, or 0.16 percent, with 68,860
* Nasdaq 100 e-minis were down 10.75 points, or 0.19 percent, on volume
of 13,504 contracts.
(Reporting by Yashaswini Swamynathan in Bengaluru; Editing by Anil
[© 2017 Thomson Reuters. All rights
Copyright 2017 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.