LONDON (Reuters) –
Stock futures point to a higher opening
on Wall Street on Thursday, reversing some of the previous
session’s losses while investors await for key inflation data,
as well as earnings from Wal-Mart Stores (WMT.N), the world’s
By 0905 GMT, S&P 500 futures were up 0.24 percent, the Dow
Jones futures were up 0.29 percent and the Nasdaq 100 futures
were up 0.19 percent.
Economic indicators on tap for Thursday include weekly
jobless claims and Consumer Price Index data, due at 1230 GMT.
Analysts expect the CPI to show a still-steep rise of 0.4
percent in July after a 1.1 percent jump in June, according to
the median forecast of 83 economists polled by Reuters.
Earnings reports on Thursday include JC Penney Co (JCP.N),
Kohl’s Corp (KSS.N) and Wal-Mart Stores (WMT.N). The results
will provide another indication of how consumers used their tax
rebate checks. Wal-Mart is expected to report a higher
second-quarter profit as cash-strapped shoppers have been
flocking to the retailer in search of discounts on food,
household items and electronics.
Steelmakers will be in the spotlight after Germany’s
ThyssenKrupp (TKAG.DE) and Salzgitter (SZGG.DE) raised their
profit forecasts on Thursday as they cashed in on growth in
developing economies such as China, India and Russia.
Brewer InBev (INTB.BR) hopes to sign senior banks into the
$45 billion loan backing its acquisition of Anheuser-Busch
(BUD.N) next week, its chief executive said on Thursday.
Barnes & Noble Inc (BKS.N), the largest U.S. specialty
bookseller, is unlikely to make a bid for rival Borders Group
Inc (BGP.N), The Wall Street Journal said, citing people
familiar with the situation.
Federal Reserve Bank of Minneapolis President Gary Stern
speaks on “Repercussions from the Financial Shock” at the
annual meeting of the Federal Reserve Bank of Minneapolis,
Helena Branch, in Three Forks, Montana 1830 GMT.
(Reporting by Blaise Robinson; Editing by David Cowell)
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