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04 Feb 2021 | 11:42

US pre-open: Stock futures mostly flat ahead of jobless data

(Sharecast News) - Wall Street futures were pointing to a mostly flat open ahead of the bell on Thursday as indices await direction from the Labor Department's jobless claims report following a three-day winning streak. As of 1240 GMT, Dow Jones futures were up 0.01%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.06% and 0.32% firmer, respectively.

The Dow closed just 36.12 points higher on Wednesday in a mixed day for US stocks.

eBay shares were in focus prior to the open after posting earnings that beat on both the top and bottom lines overnight, while PayPal was also in the green thanks to some better-than-expected quarterly figures.

Bristol-Myers Squibb posted a fourth-quarter loss of $4.45 per share despite a 39% boost to revenues, while Merck & Co posted a quarterly loss of $2.09bn.

Phillip Morris, Ford, Activision Blizzard, Hershey, Snap and Wynn Resorts will also report earnings throughout the course of the day.

SpreadEx's Connor Campbell said: "Barely moving on Thursday, the Dow Jones may remain cautious ahead of tomorrow's nonfarm jobs report. The futures have the index unchanged later this Thursday, sitting around 20 or so points above 30,700."

On the macro front, planned job cuts by US companies increased 3.3% month-on-month to 79,552 in January, according to Challenger, Gray & Christmas, although the outplacement and business and executive coaching firm noted a levelling off of announcements, which it said could bode well for recovery over the coming months.

Still to come, jobless claims data for the week ended 23 January will be published at 1330 GMT, while factory orders data for December will follow at 1500 GMT.

Federal Reserve Bank of San Francisco president Mary Daly will deliver comments at 1900 GMT.
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