Stock Futures Flat as Data Storm Looms

By MarketsFOXBusiness

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U.S. stock-index futures were little changed in early action as traders awaited a slew of key economic data.

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Today's Markets

As of 7:45 a.m. ET, Dow Jones Industrial Average futures fell 5 points, or 0.03%, to 16506, S&P 500 futures dipped 0.25 point, or 0.01%, to 1878 and Nasdaq 100 futures rose 6.2 points, or 0.17%, to 3580.

The Dow logged a fresh closing high on Wednesday, while the broad S&P 500 climbed closer to its record high, as traders cheered upbeat data on the labor market and shrugged off much weaker-than-expected GDP data. The data storm continues raging on Thursday, with many reports on tap.

Traders will get a duo of reports at 8:30 a.m. ET. The number of Americans filing for first-time jobless benefits is seen having fallen to 319,000 last week from 329,000 the week prior. Meanwhile, consumer spending is expected to have risen by 0.6%, while personal income increased 0.4%, in March.

Meanwhile, the closely-watched report from the Institute for Supply Management is expected to show the U.S. manufacturing sector grew at a quicker rate in April from the month prior.

The reports come ahead of the April jobs report, due on Friday.

In corporate news, ExxonMobil (NYSE:XOM), the world's biggest publicly-traded energy company, is due to report its earnings ahead of the opening bell. General Motors (NYSE:GM), Ford (NYSE:F) and Fiat's (NYSE:FIATY) Chrysler are set to report monthly sales figures.

Elsewhere, U.S. crude oil futures fell 84 cents, or 0.84%, to $98.90 a barrel. Wholesale New York Harbor gasoline dipped 0.76% to $2.942 a gallon. Gold slid $13, or 1%, to $1,283 a troy ounce.

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