U.S. stock futures are trading modestly lower Thursday as in reaction to a mixed jobless claims report and as investors show concern over the possibility of China boosting interest rates to fight accelerating prices. The Chinese consumer price index, which tracks inflation at the retail level, rose 2.7% in February. The Labor Department reported that the number of people applying for unemployment benefits fell by 6,000 last week, which is the second decline in a row. Initial claims fell to a seasonally adjusted 462,000 from a revised 468,000. In corporate news, IMAX (NASDAQ:IMAX) reported fiscal Q4 EPS of $0.06, inline with consensus estimates. Revenues rose 98% year-over-year to $54.2 million, topping consensus estimates of $45.3 million. Jackson Hewitt Tax Service (NYSE:JTX) reported adjusted fiscal Q3 EPS of $0.46, missing consensus estimates of $0.48. Revenues for the quarter fell 23.6% year-over-year to $79.1 million, falling short of consensus estimates of $83.41 million. The Dow Jones Industrial Average (DJI) futures are trading 21.00 points below fair value, the S&P500 (INX) futures are trading 3.99 points below fair value, and the Nasdaq Composite (IXIC) futures are trading 6.50 points below fair value.
Real-time trend alerts will keep you in the know about the market and identify when a stock is trending up or down. Gain access to personalized watchlists, featured trading ideas and Morning Call.