U.S. Stock Futures Point Higher Ahead of Data

U.S. stock futures signaled a higher open on Thursday, ahead of the weekly jobless-claims report and a raft of same-store sales numbers from retailers.

Futures for the Dow Jones Industrial Average added 34 points, or 0.2%, to 15476. Those for the S&P 500 index rose 3.30 points, or 0.2%, to 1691.5, and futures for the Nasdaq 100 index picked up 9.50, or 0.3%, to 3125.5

The gains came after U.S. stocks declined on Wednesday, on concerns about the timing of the Federal Reserve's pullback of its monthly asset purchases.

Fed Chairman Ben Bernanke has on several occasions stressed that the tapering process is dependent on progress in economic data, leaving investors scrutinizing macroeconomic releases out of the U.S.

On Thursday, weekly jobless-claims data will be on tap at 8:30 a.m. Eastern Time. Claims are expected to come in at 339,000 for the week ended Aug. 3, compared with 326,000 at the end of July, according to economists polled by MarketWatch.

In Thursday's trading, retailers are in the spotlight, ahead of the monthly releases on sales numbers. Costco Wholesale Corp. (COST), which publishes its figures earlier than most others, said comparable sales rose 4% in July, falling short of analysts' estimates of a rise of 5.1%.

In other corporate news, shares of Groupon Inc. (GRPN) shot up 25% in thin premarket trading, after the daily-deal site late Wednesday reported second-quarter sales ahead of expectations. Additionally, it tapped Eric Lefkofsky as chief executive, more than five months after firing Andrew Mason from that post.

Tesla Motors Inc. (TSLA) rose 12% ahead of the open, after the electric-car maker said it delivered more vehicles than expected during the quarter, boosting revenue and resulting in a surprise adjusted profit.

Green Mountain Coffee Roasters Inc. (GMCR) slipped 2.5% premarket. The company on Wednesday reported revenue that missed expectations.

In other financial markets, Asia stocks closed mostly higher after Chinese trade data showed a rise in both exports and imports in July. European stocks showed broad-based gains.

Metals prices were higher across the board, while oil prices moved lower. The dollar traded lower against most major currencies.

Write to Sara Sjolin at [e-mail]

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