Kohl's, Blue Apron higher after reporting results
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U.S. stock-index futures pointed to more losses for Wall Street on Thursday as tensions between the U.S. and North Korea showed few signs of easing.
On the corporate side, investors will get earnings from Macy's Inc. and Kohl's, along with an update on producer prices.
Dow Jones Industrial Average futures fell 55 points, or 0.3%, to 21,963, while S&P 500 futures dropped 9.50 points, or 0.4%, to 2,463.50. Tech stocks were indicating bigger losses, as Nasdaq-100 futures slid 38.50 points, or 0.7%, to 5,884.
"Traders would require nerves of steel to start buying into the stock market now, given standoff between the U.S. and North Korea," David Madden, market analyst at CMC Markets U.K., said in a note to clients.
Stocks finished off their lows, but still stayed negative Wednesday (http://www.marketwatch.com/story/us-stock-futures-pull-back-as-north-korea-threatens-guam-2017-08-09), as investors assessed the U.S.-North Korea war of words and a clutch of disappointing earnings reports.
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Opinion:Time is running out to avoid war with North Korea (http://www.marketwatch.com/story/time-is-running-out-to-avoid-war-with-north-korea-2017-08-09)
On Wednesday, the Dow closed down 0.2% at 22,048.70, the S&P 500 closed less than 0.1% lower at 2,474.02, and the Nasdaq Composite Index dropped 0.3% to 6,352.33.
"Over the last few days we've been wondering what it would take to knock the S&P 500 out of its 90-year record low trading range of no moves of bigger than 0.3% in either direction," said Deutsche Bank analysts in a note to clients.
But after yesterday's action on the index, "we can possibly rule out the threat of nuclear war as a catalyst," said Jim Reid, strategist, and Jeff Cai, research analyst. They noted the S&P 500 managed to close only 0.04% lower, extending that run of tight moves to 15 days.
The geopolitical tension continued Thursday, after a North Korean army commander said, "Sound dialogue is not possible" with Trump and "only absolute force can work on him," according to state media. North Korea also laid out detailed plans of how it would launch a missile strike on U.S. military bases in Guam (http://www.marketwatch.com/story/north-korea-details-plan-to-fire-missiles-toward-guam-says-only-absolute-force-will-work-with-trump-2017-08-09).
Economic docket: Data on tap includes weekly jobless claims at 8:30 a.m. Eastern Time, with producer prices for July coming at the same time. The federal budget for July is scheduled for release at 2 p.m. Eastern.
New York Federal Reserve President William Dudley will speak on wage inequality in the New York region at 10 a.m. Eastern.
Stocks to watch: Blue Apron shares shot up 9% in premarket, helped in part by a beat on revenue (http://www.marketwatch.com/story/blue-apron-shares-climb-after-revenue-beat-better-customer-revenue-2017-08-10). Shares of Kohl's (KSS) rose 2.7% after an earnings beat (http://www.marketwatch.com/story/kohls-stock-jumps-premarket-after-earnings-beat-2017-08-10).
Macy's(M) is still due to report ahead of the open. Read a preview of Macy's earnings (http://www.marketwatch.com/story/macys-earnings-cosmetics-promotions-could-hurt-margins-2017-08-07).
Opinion: Here's one retailer Amazon won't kill (http://www.marketwatch.com/story/heres-one-retailer-amazon-wont-kill-2017-08-09)
Snapchat parent Snap Inc.(SNAP), Nordstrom Inc.(JWN), News Corp.(NWS.AU) and Nvidia Corp.(NVDA) will report after the close.
Check out earnings previews for Snap (http://www.marketwatch.com/story/snap-earnings-as-facebook-and-google-challenge-turf-new-approach-rolls-out-2017-08-09) (http://www.marketwatch.com/story/snap-earnings-as-facebook-and-google-challenge-turf-new-approach-rolls-out-2017-08-09)and Nvidia (http://www.marketwatch.com/story/nvidia-earnings-cryptocurrency-boom-could-lead-to-new-products-2017-08-08)
(http://www.marketwatch.com/story/nvidia-earnings-cryptocurrency-boom-could-lead-to-new-products-2017-08-08)Other markets: Investors' appetite for assets perceived as haven in times of geopolitical trouble ebbed slightly. The Swiss franc gave up some gains (http://www.marketwatch.com/story/swiss-franc-gives-up-some-gains-as-investors-monitor-us-north-korea-standoff-2017-08-10), as the U.S. dollar was slightly higher across the board. Gold gained $7.70, or 0.6%, to $1,286.90.
Read:Here's why export powerhouse Germany is 'euphoric' even with a soaring euro (http://www.marketwatch.com/story/export-reliant-germany-euphoric-even-as-the-euro-soars-yes-heres-why-2017-08-09)
Oil prices were moving higher, but data from the Organization of the Petroleum Exporting Countries showed a further rise in crude-oil production in July (http://www.marketwatch.com/story/opec-production-rises-in-july-in-latest-blow-to-output-deal-2017-08-10).
Asian markets continued to fall on Thursday (http://www.marketwatch.com/story/asian-markets-continue-to-fall-after-wednesdays-selloff-2017-08-09), with losses of over 1% for the Hong Kong Hang Seng Index . European stocks (http://www.marketwatch.com/story/european-stocks-fall-as-caution-over-geopolitical-tensions-linger-2017-08-10) were also in the red.
(END) Dow Jones Newswires
August 10, 2017 07:57 ET (11:57 GMT)