Stock futures were headed lower on Thursday as investors may not have gotten over their disappointment with Fed minutes released Wednesday that indicated only a few Fed members are ready to ramp up stimulus measures. Some analysts are now arguing that the market might be better off if the U.S. economy gets worse, because a further downturn would push provoke action. With that in mind…weekly jobless claims fell by 26,000 to 350,000, the lowest level in four years. So isn’t that good news? Not to equity investors, apparently.
Dow futures fell 84 points; S&P 500 futures fell 10.5 points.
Supermarket chain Supervalu (SVU) posted miserable first quarter results late on Wednesday and announced it will suspend its dividend. Shares fell 37% in pre-market trading.
Chevron (CVX) fell 0.6% after saying late on Wednesday that second quarter earnings should exceed first quarter results. JP Morgan analysts raised its rating to Neutral.
Merck (MRK) rose 4.1% on strong results for its experimental osteoporosis drug.
Family Dollar (FDO) shares were flat after Bank of America/Merrill Lynch analysts lowered their rating on the stock to underperform.
Marriott International (MAR) fell 3.7% after the hotel chain reported weaker than expected second quarter revenue.
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