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Stocks- U.S. Futures Inch Down as Investors Wait for Earnings, Data

U.S. Futures pointed to a lower opening bell on Wall Street.
U.S. Futures pointed to a lower opening bell on Wall Street.

Investing.com – U.S. futures were lower on Thursday as investors paused before a flurry of economic data and earnings results.

The S&P 500 futures was down five and a half points or 0.20% to 2,704.25 as of 6:49 AM ET (10:49 GMT) while Dow futures decreased 32 points or 0.13% to 24,701.0. Meanwhile tech heavy Nasdaq 100 futures fell 14 points or 0.21% to 6,829.25.

Earnings will continue to be in focus on Thursday, as investors turn their attention away from geopolitical and trade tensions.

Procter & Gamble Company (NYSE:PG), Bank of New York Mellon (NYSE:BK), BB&T (NYSE:BBT), Blackstone (NYSE:BX) and Philip Morris International Inc (NYSE:PM) are among the firms expected to report their earnings on Thursday.

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Biotech firm Shire plc (NASDAQ:SHPG) was among the biggest gainers in pre-market trading, rising 3.97% while Harmony Gold Mining Company Limited (NYSE:HMY) surged 5.56% and Gold Fields Ltd ADR (NYSE:GFI) was up 4.59%.

Elsewhere Helios and Matheson Analytics Inc (NASDAQ:HMNY)slumped 24.28% after the owner of MoviePass announced a share offering and an auditor raised doubt about its moving streaming subscription business. Consumer goods firm Unilever PLC (NYSE:UL) was down 2.55% amid pricing concerns, despite its earnings meeting expectations.

In economic news, jobless claims and the Philadelphia Fed manufacturing business outlook survey are released at 8:30 AM ET (12:30 GMT). Federal Reserve members are also expected to speak on Thursday. Fed Governor Randal Quarles appears before the Senate Banking Committee, while Cleveland Fed President Loretta Mester speaks in Pittsburgh and Fed Governor Lael Brainard will be in Washington.

In Europe stocks were mixed. Germany’s DAX fell 10 points or 0.08% while in France the CAC 40 increased seven points or 0.14% and in London, the FTSE 100 was up six points or 0.09%. Meanwhile the pan-European Euro Stoxx 50 was down two points or 0.08% while Spain’s IBEX 35 inched up four points or 0.05%.

In commodities, gold futures fell 0.19% to $1,350.90 a troy ounce while crude oil futures increased 0.45% to $68.78 a barrel. The U.S. dollar index which measures the greenback against a basket of six major currencies, was up 0.01% to 89.36.

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