Added: Jul 8, 2010
From: TradeTheTrend
Duration: 3:55
U.S. stock futures are trading mixed Thursday ahead of key reports on jobless claims and retail sales. The Labor Department is expected to report that initial claims for jobless benefits fell to 465,000 last week from 472,000 a week earlier. The report is due out at 8:30 AM ET. The International Monetary Fund raised its world growth estimate for the year to 4.6% from 4.2%, which helped to boost overseas markets, as the European Central Bank wraps up a meeting where it is expected to discuss the strength of the banking sector in Europe. In corporate news, Costco Wholesale (NASDAQ:COST) reported that same-store sales rose 4%, better than consensus estimates for a rise of 3.7%. Wells Fargo (NYSE:WFC) said it will cut 3,800 jobs and close a business unit that specialized in subprime and other loans issued through its consumer finance stores. The Dow Jones Industrial Average (DJI) futures are trading 3.00 points above fair value, the S&P500 (INX) futures are trading 0.90 points below fair value, and the Nasdaq Composite (IXIC) futures are trading 2.00 below fair value.
Channel: News
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