Thursday May 4th

4-05-2017

Futures point to higher open on Wall Street after earnings and data

U.S. stock index futures pointed to a higher open on Thursday as traders digested moreearnings and several pieces of data. Dunkin Brands reported a profit increase of 28 percent for its first quarter, but the stock fell more than 1 percent before the bell on light volume. Regeneron and Viacom are also among the companies that reported ahead of the open. Activision Blizzard, CBS, El Pollo Loco and Shake Shack are among companies due to report after the bell. On the data front, jobless claims fell by 19,000 to 238,000, while productivity for the first quarter fell more than expected. The U.S. trade deficit, meanwhile, narrowed to $43.7 billion. Factory orders are due at 10 a.m. ET. In Europe, the pan-European Stoxx 600 Index was around 0.44 percent higher on Thursday morning. In Asia, China's Shanghai Composite closed down 0.26 percent. In oil markets, Brent crude traded at around $49.94 a barrel on Thursday, down 1.7 percent, while U.S. crude was around $46.91 a barrel, down 1.9 percent. Gold prices tumbled to six-week lows on Thursday, under pressure from a strengthening dollar on expectations of further U.S. rate rises this year and receding political uncertainty in Europe. Spot gold was down 0.65 percent to $1,229.91. U.S. gold futures dropped more than 1.5 percent to $1,229.60 an ounce.