Morning Market Update: March 4, 2010

U.S. stock futures are trading mixed Thursday as investors are cautious ahead of a deluge of data over the next two days, including the monthly jobs report. The Labor Department's weekly jobless claims report is due out at 8:30 AM ET and economists expect that first time claims fell to 470,000 from 496,000 last week. The Commerce Department's industrial sector report is due out at 10:00 AM ET and economists expect that orders grew 1.8% last month, after a 1% rise in January. In corporate news, Urban Outfitters (NASDAQ:URBN) reported fiscal Q4 EPS of $0.45, ahead of the consensus estimates of $0.40 per share. Revenues rose 16% year-over-year to $588.0 million, ahead of the consensus estimates of $586.0. Western Refining (NYSE:WNR) reported a Q4 loss of $0.58, ex-items, beating consensus estimates for a loss of $0.68. Revenues for the quarter rose 18.3% year-over-year to $1.96 billion, topping consensus estimates of $1.79 billion. The Dow Jones Industrial Average (DJI) futures are trading 10.00 points above fair value, the S&P500 (INX) futures are trading 0.40 points above fair value, and the Nasdaq Composite (IXIC) futures are trading 1.00 below fair value.