US pre-open: Futures in the green as earnings continue to roll in
Wall Street futures were in the green ahead of the bell on Thursday thanks to some better-than-expected corporate results.
As of 1240 BST, Dow Jones futures were up 0.41%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.45% and 0.66% lower, respectively.
The Dow closed 53.62 points higher on Wednesday in what turned out to be a mixed session for major indices as market participants rifled through some strong earnings from several of the nation's largest banks.
Corporate earnings were firmly in focus ahead of the bell on Thursday, with Bank of America posting earnings that came in well ahead of expectations on the Street thanks to a solid performance from its trading and investment units and the release of loan-loss reserves.
Pepsi shares were in the green before the open after the drinks maker posted a 7% jump in quarterly sales, topping estimates, while Dow-constituent UnitedHealth also advanced in pre-market trading after its quarterly results topped analysts' expectations and the insurer raised its full-year 2021 guidance.
Traders will also be patiently awaiting the Labor Department's latest weekly jobless claims report, with economists predicting that another 710,000 Americans filed first-time claims in the week ended 10 April.
SpreadEx's Connor Campbell said: "As for the US open, after missing out on a closing all-time high last night, the Dow Jones is set to be back in the hunt this Thursday. Currently, the futures have the index heading for a 0.4%, 120-point, rise, pushing it above 33,860.
"However, between now and then sit the retail sales readings for March. Luckily for the US, things are looking up. The standard figure is set to rebound from -3.0% to 5.8%, with the core number seeing a similar improvement, from -2.7% to 5.1%."
On the macro front, weekly jobless claims data will be posted at 1330 BST, as will March retail sales figures, the Philadelphia Fed's manufacturing index for April and this month's New York Empire State manufacturing index.
Industrial production figures for March will follow at 1415 BST, while February business inventories data and the NAHB's housing market index for April will be released at 1500 BST.
Federal Reserve heads Raphael Bostic, Mary Daly and Loretta Mester will all deliver comments throughout the course of the day.