MARKET SNAPSHOT: Dow Set For A Fight To Stay Above 22,000; Tesla Shares Tear Higher

Tesla's stock jumps premarket following quarterly results as Nasdaq also looks to open slightly higher

U.S. stock futures on Thursday pointed to a muted open, setting the Dow industrial up for a fight to stay above 22,000--just one day after it topped that milestone for the first time.

Meanwhile, an early reading of employment didn't cause much of a market reaction, as it showed weekly jobless claims holding at a 44-year low, underlining the health of the labor market. Initial jobless claims from July 23 to July 29 declined by 5,000 ( 240,000, while the average of new claims over the past month fell to 241,750.

Dow Jones Industrial Average futures traded up 9 points, or less than 0.1%, at 21,966.00, while S&P 500 futures gained less than a point at 2,474.25. Nasdaq-100 futures added 12.75 points, or 0.2%, to 5,923.50.

On Wednesday, the Dow rose by 52.32 points (, or 0.2%, to an all-time closing high of 22,016.24, while the S&P 500 and Nasdaq Composite finished roughly unchanged.

Check out:All of the important Dow milestones in one chart (

And see:How each Dow stock contributed to the 22,000 milestone (

Individual movers: Shares in Tesla Inc. (TSLA) traded 6.5% higher in premarket action after electric-car maker posted a smaller-than-anticipated quarterly loss ( late Wednesday.

Read:Tesla cheered as results beat, but Wall Street braces for capital raise (

And see:Tesla is a big public company, and Elon Musk must start acting like it (

American International Group Inc.(AIG) also looks on pace for an up day after the insurer's quarterly profit beat forecasts late Wednesday (

Ahead of the opening bell, satellite-TV provider Dish Network Corp.(DISH) posted a sharp drop in quarterly earnings and weaker-than-expected revenue (, while cleaning-products giant Clorox Co.'s (CLX) profit topped expectations (, as its sales matched views.

Kellogg Co. shares rose 0.9% in premarket trade after the Frosted Flakes producer delivered better-than-expected second-quarter results ( Net income was $282.0 million, or 80 cents per share, up from $280.0 million, or 79 cents per share, for the same period last year and adjusted earnings-per-share was 97 cents, beating the 92-cent FactSet consensus.

Shares of Teva Pharmaceutical Industries Ltd. (TEVA) plunged nearly 15% after the drugmaker missed fiscal second-quarter profit expectations ( and slashed its full-year outlook.

Allergan PLC(AGN) shares slipped even as the drugmaker lifted its full-year guidance for revenue in 2017 to $15.850 billion, compared with prior guidance of $15.800 billion. Shares were off 0.2%.

Health insurer Aetna Inc.(AET) after the health-care company's second-quarter earnings beat analyst forecasts ( Profit for the quarter came in at $1.2 billion, or $3.60 a share, up from $791 million, or $2.23 a share, a year ago. Shares jumped 4.4%.

Yum Brands Inc.'s(YUM) stock advanced after the fast-food conglomerate ( served up beat on earnings and delivered same-store sales growth.

See:Kraft Heinz earnings--have revenue estimates fallen enough to be beatable? (

Economic news: The July figure for Markit's purchasing managers index for services is due at 9:45 a.m. Eastern. Then 15 minutes later, ISM's nonmanufacturing index for the same month is expected, along with June data on factory orders. Economists anticipate a reading of 56.9% for the ISM gauge and 2.9% growth in factory orders.

Check out:MarketWatch's Economic Calendar (

A high-profile release ( on the job market is due Friday--the U.S. government's monthly data on nonfarm payrolls.

Other markets:The British pound ( lost ground as traders reacted to the Bank of England's "Super Thursday" releases. The U.K. central bank's Monetary Policy Committee voted to keep its key interest rate ( at 0.25% in a 6-2 vote. The ICE U.S. Dollar Index was up modestly.

Oil futures ( were little changed, while gold futures pulled back. European stocks ( were mixed, while Asian markets closed lower (

(END) Dow Jones Newswires

August 03, 2017 09:14 ET (13:14 GMT)