Forexpros – U.S. stock futures pointed to moderately higher open on Thursday, as investors awaited the release of U.S. economic reports later in the day, after globally positive data earlier in the week lowered expectations for new stimulus measures by the Federal Reserve.
Ahead of the open, the Dow Jones Industrial Average futures pointed to a 0.15% rise, S&P 500 futures signaled a 0.14% gain, while the Nasdaq 100 futures indicated a 0.11% increase.
Expectations for additional easing measures by the U.S. central bank eased after official data on Wednesday showed that industrial production in the U.S. rose more than expected in July.
The data came one day after significantly stronger-than-expected U.S. retail sales numbers for July damped expectations for another round of quantitative easing by the U.S. central bank.
But investors remained cautious after data on Wednesday showed that a gauge of manufacturing activity in New York fell into contraction territory in August for the first time since October 2011.
Tech stocks were expected to be active, after Cisco Systems pleased investors with a 75% dividend hike as the company posted quarterly results that beat estimates, sending shares up 5.59% in pre-market trade.
The company offered little hope that dire economic conditions in Europe would come to an end any time soon, however.
Also in earnings news, Applied Materials forecast current-quarter revenue below expectations and its chief executive hinted the top chip-gear maker could shed poorly performing non-core businesses. Shares tumbled 3.98% in after-hour trade.
Meanwhile, the legal battle between Apple and Samsung continued on Wednesday, as the iPhone maker introduced into evidence a pair of documents showing that Google pressured Samsung to redesign its Galaxy products because they were too much like Apple’s phones and tablets.
Separately, mobile phone maker Nokia saw shares decline 1.14% pre-market, after saying on Wednesday that it will hold a joint media event with Microsoft in New York in September, boosting hopes that it will unveil its Windows smartphone upgrade before Apple presents its next iPhone.
Financial stocks were also likely to be in the spotlight, as U.S. lender JP Morgan was reportedly among the seven world banks subpoenaed this week in New York and Connecticut’s investigation into alleged manipulation of Libor. Also involved in the case, Citigroup had received a subpoena earlier this year.
Other stocks in focus included Facebook, as the social media was set to free up 271.1 million of its shares on Thursday, boosting by 60% the number that can be traded.
Across the Atlantic, European stock markets were lower. The EURO STOXX 50 fell 0.10%, France’s CAC 40 eased 0.08%, Germany’s DAX added 0.10%, while Britain’s FTSE 100 declined 0.19%.
During the Asian trading session, Hong Kong’s Hang Seng Index dropped 0.45%, while Japan’s Nikkei 225 Index jumped 1.88%.
Later in the day, the U.S. was to publish official data on building permits and housing starts, as well as weekly government data on unemployment claims and data on manufacturing activity in the Philadelphia area.
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