morning ga cats....Before the bell: Futures higher amid more earnings, ahead of jobless data
Posted Jul 30th 2009 7:45AM by Melly Alazraki
Filed under: Before the bell, International markets, Earnings reports, Motorola (MOT), Exxon Mobil (XOM), Market matters, Walt Disney (DIS), Dow Chemical (DOW), Economic data, Oil
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U.S. stock futures climbed higher Thursday morning, indicating stocks may reverse Wednesday's declining trend, as yet another wave of corporate earnings is scheduled for today. Jobless data is also on the docket ahead of the opening bell.
Earnings from some serious heavy weights are scheduled before the market opens, including Exxon Mobil (XOM), Walt Disney Co. (DIS) Motorola (MOT), which reported an unexpected profit, and Dow Chemical (DOW), whose adjusted earnings came in below analyst estimates.
The U.S. Labor Department will release initial weekly jobless claims at 8:30 a.m. Eastern, and as has been the case the past few months, the data will be closely watched and may move the market. Claims are expected to rise from last week.
Oil prices paused above $63 a barrel Thursday, after signs of weak U.S. crude demand triggered a sharp sell-off this week from $69 to the current level.
Overseas, Asian shares rose on upbeat earnings, mostly ending higher. European markets continued the positive move from Wednesday.
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