Stock Futures Tick Higher After Data

By MarketsFOXBusiness

FOX Business: Capitalism Lives Here

U.S. stock-index futures turned mildly higher on Thursday as traders parsed through two economic reports.

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As of 8:39 a.m. ET, Dow Jones Industrial Average futures climbed 9 points, or 0.05%, to 16779, S&P 500 futures advanced 0.5 point, or 0.03%, to 1949 and Nasdaq 100 futures rose 1.2 points, or 0.03%, to 3816.

The markets took a hit during the middle of the week, but they rebounded on Wednesday despite weak economic data.

The Labor Department said the number of Americans filing for first-time jobless benefits fell to 312,000 last week from an upwardly revised 314,000 the week prior. Wall Street expected claims to fall to 310,000 from an initially reported 312,000.

Meanwhile, the Commerce Department reported consumer spending rose 0.2% in May, lower than the 0.4% increase Wall Street expected. Personal income, meanwhile, rose 0.4% in the same month, matching economists’ estimates.

In corporate news, Alcoa (NYSE:AA) said it will buy aircraft parts maker Firth Rixson from private-equity firm Oak Hill Capital for $2.85 billion in cash and stock. GoPro is set to make its public debut on the Nasdaq Stock Market after pricing at the upper end of its range.

Elsewhere, U.S. crude oil futures fell 20 cents, or 0.19%, to $106.29 a barrel. Wholesale New York Harbor gasoline fell 0.12% to $3.089 a gallon. Gold dropped $14.60, or 1.1%, to $1,308 a troy ounce.

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