Posted on Wednesday, 14th April 2010 by Jesse Walker

There’s No Business Like FOX Business

Stock futures pulled back slightly on Thursday ahead of key economic data, including weekly initial jobless claims and March industrial production figures

As of 7:30 a.m. in New York, the Dow Jones Industrial Average futures fell 19 points, or 0.17%, to 11046, the S&P 500 futures fell 2.5 points to 1204.10 and the Nasdaq 100 futures fell 5.5 points to 2021.00.

While earnings season continues on Wall Street, nearly all of today’s market data is on economy-related. Investors will get weekly jobless claims and the Empire State manufacturing index at 8:30 a.m., industrial production and capacity utilization figures at 9:15 and the Philadelphia Fed index at 10 a.m. 

Three Fed governors are scheduled to speak throughout the day at various engagements. 

Economists expect that weekly jobless claims fell by 20,000 last week to 440,000, according to Thomson Reuters, while continuing claims rose slightly to 4.583 million claims. The Empire State index is expected to rise to a reading of 24.0 in April from last month’s reading of 22.86.

Industrial production is expected to rise 0.7% for March compared with last month’s rise of 0.1%. 

The biggest company to report today is search giant Google (GOOG), who will report after the closing bell. Analysts on average expect Google to report a profit of $6.56 a share on revenue of $4.93 billion, according to Thomson Reuters.

In the commodity markets, oil fell 1 cent to $85.83 a barrel and gold fell 0.6% to $1,152.90 a troy ounce. 

On Wednesday, the Dow rose 103.69 points, or 0.94%, to 11123.11, the Standard & Poor’s 500 gained 13.35 points, or 1.12%, to 1210.65 and the Nasdaq Composite picked up 38.87 points, or 1.58%, to 2504.86. The FOX 50 added 10.17 points, or 1.17%, to 880.51.

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Tags: Data, Economic Data
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