MARKET SNAPSHOT: U.S. Stocks: Futures Lower After Data

By Anora Mahmudova and Sara Sjolin, MarketWatch

Exxon Mobil, New York Times earnings on tap

U.S. stock-index futures held earlier losses and pointed to a negative day on Wall Street Thursday as investors assessed a trio of economic reports and earnings.

Weekly jobless claims dropped by far more than expected, while employment costs rose last quarter signalling tightening in the labor market. Consumer spending rose modestly in March, while inflation ticked up.

Investors were also watching the latest raft of corporate earnings, including results from Exxon Mobil Corp. (XOM), New York Times Co. (NYT) and Colgate-Palmolive Co. (CL).

Futures for the Dow Jones Industrial Average (YMM5) were off 22 points, or 0.1%, to 17,933, while those for the S&P 500 index (ESM5) slipped 3 points, or 0.1%, to 2,096. Futures for the Nasdaq 100 index (NQM5) gave up 14 points, or 0.3%, to 4,465.

The losses add to declines from Wednesday, when the benchmarks ended a volatile session lower (http://www.marketwatch.com/storyno-meta-for-guid)after the Fed left open the possibility of an interest-rate hike as early as June (http://www.marketwatch.com/story/fed-expects-economy-to-recover-as-it-keeps-rate-options-open-2015-04-29). The central bank said it wants to see further improvement in the labor market and have confidence that low inflation is stabilizing before they raise rates. Sluggish first-quarter growth also took a toll on stocks.

Data: The number of people who applied for U.S. unemployment benefits fell 34,000 to 262,000 in the seven days from April 19 to April 25, the government said Thursday.

The cost of employing the average U.S. worker climbed 0.7% in the first quarter, according to a closely watched gauge.

Consumer spending rose a seasonally adjusted 0.4% in March, the Commerce Department said Thursday. But personal income was flat last month, likely reflecting slower job creation. Inflation as gauged by the PCE price index climbed 0.2% in March

Earnings: Reporting ahead of the bell, Exxon MobilCorp.(XOM) posted better-than-expected profit and sales but the integrated oil giant's results still show signs of the plunge in oil prices.

Another energy company, ConocoPhillips (COP), reported an adjusted first-quarter loss of 18 cents, slightly bigger than what was forecast.

New York Times Co.(NYT) reported first-quarter profit and sales that missed Street consensus estimates, and announced that it expects advertising revenue to fall in the second quarter.

Colgate-Palmolive Co.(CL) said first-quarter sales fell 6%, slightly missing analyst expectations. The consumer-goods company also said expects a double-digit decline in full-year earnings per share. Shares slipped 1.1% ahead of the bell.

Time Warner Cable Inc.(TWC) reported disappointing profit and revenue for the first quarter.

Viacom Inc.(VIA) reported adjusted second-quarter earnings above expectations (http://www.marketwatch.com/story/viacom-beats-profit-expectations-but-misses-on-sales-2015-04-30), while revenue missed.

After the bell, American International Group Inc.(AIG)LinkedInCorp.(LNKD) and Visa Inc. (V) are set to report. Read about what's expected (http://www.marketwatch.com/story/new-york-times-exxon-aig-linkedin-fireeye-earnings-in-focus-2015-04-30).

Movers and shakers: Shares of Yelp Inc.(YELP) plunged 18% after the online review company late Wednesday reported first-quarter earnings that missed analyst expectations (http://www.marketwatch.com/story/yelp-reports-slower-growth-profit-and-sales-miss-2015-04-29). RBC Capital Markets on Thursday cut the stock to sector perform from outperform, citing the "very negative" quarterly result.

Glu Mobile Inc.(GLUU) leapt 23% premarket after Chinese Internet company Tencent Holdings Ltd. said it would buy a 14.6% stake in the mobile-game company for $126 million.

U.S.-listed shares of Alcatel-Lucent(ALU) slumped 5.5% after the Financial Times reported a major shareholder in the French telecoms company has criticized the terms of its buyout by Nokia (http://www.marketwatch.com/story/key-alcatel-lucent-shareholder-calls-nokia-deal-unacceptable-2015-04-30). U.S.-listed Nokia shares (NOK) lost 6.9%. The company also reported first-quarter earnings (http://www.marketwatch.com/story/nokia-profit-falls-but-beats-expectations-2015-04-30).

Other markets: Asian stock markets closed mostly lower (http://www.marketwatch.com/storyno-meta-for-guid), while European benchmarks (http://www.marketwatch.com/storyno-meta-for-guid) struggled for direction.

Crude-oil prices (CLM5) moved 1% higher (http://www.marketwatch.com/storyno-meta-for-guid) and most metals declined. The dollar (DXY) traded mixed against other major currencies (http://www.marketwatch.com/storyno-meta-for-guid).

Subscribe to WSJ: http://online.wsj.com?mod=djnwires