By Barbara Kollmeyer, MarketWatch
Lumber Liquidators, Box, Shake Shack among the movers
MADRID (MarketWatch) -- Stock futures moved modestly higher on
Thursday, following an Asian stock rally and as the surge in the
dollar abated somewhat, but investors remain wary ahead of retail
sales and weekly jobless claims.
Futures for the Dow Jones Industrial Average (DJH5) were up 38
points, or 0.2%, to 17,676, while those for the S&P 500 index
(SPH5) were up 4.75 points, or 0.2%, to 2,044.25. Futures for the
Nasdaq-100 index (NDH5) were ahead by about 10.75 points, or 0.2%,
to 4,318.25.
Across global markets, the Nikkei 225 index
(http://www.marketwatch.com/story/japan-stocks-rise-to-15-year-high-2015-03-12)
rallied 1.4% to a 15-year high , while the Stoxx Europe 600
(http://www.marketwatch.com/story/resource-firms-lift-european-stocks-for-second-straight-day-2015-03-12)
added about 0.3%. The euro
(http://www.marketwatch.com/story/euro-hits-fresh-12-year-low-against-dollar-2015-03-12-21033857)(EURUSD)
dipped to a fresh 12-year low of around $1.0494 during Asia trade,
but moved back up to around $1.0639, while the dollar (USDJPY) also
eased against the yen.
Adding to the growing list of central banks cutting rates, South
Korea surprised markets
(http://www.marketwatch.com/story/south-korea-cuts-interest-rate-to-record-low-2015-03-11)
by easing its base rate a quarter of a percentage points to a
record low of 1.75%. That comes on the heels of a rate cut by
Thailand's central bank Wednesday.
Need to Know: Ignore the dollar and embrace the next stock dip
(http://www.marketwatch.com/story/ignore-the-dollar-and-embrace-the-next-dip-2015-03-12)
Retail sales on the radar: Wall Street had a slightly less
painful day on Wednesday
(http://www.marketwatch.com/story/us-stocks-futures-claw-back-some-ground-after-wall-street-meltdown-2015-03-11),
though major indexes still slipped 0.2% across the board as
investors continue to ponder the timing of the next Federal Reserve
rate hike. Policy makers could issue new guidance after their March
17-18 meeting.
Initial weekly jobless claims are coming at 8:30 a.m. Eastern
Time, while retail sales for February are released at the same
time. Business inventories data will be released at 10 a.m.
Eastern.
Retail sales will be the piece of data that likely gets the most
attention, and forecasters polled by MarketWatch are expecting a
gain of 0.3% for February. "Any weakness could leave analysts
questioning the timing once again and may in turn have the
potential to nudge stocks higher on both sides of the Atlantic,"
said analysts at Trustnet Direct, in a note.
Also see: This was the best-performing stock sector for 87 years
(http://www.marketwatch.com/story/buy-the-best-performing-stock-sector-for-87-years-2015-03-11)
Stocks to watch: Shares of Citigroup Inc. (C) rose 3% in thin
premarket trading after it was among 28 of 31 big banks that got
the Fed's approval to return capital to investors
(http://www.marketwatch.com/story/federal-reserve-rejects-2-banks-capital-plans-in-stress-tests-2015-03-11).
The Fed late Wednesday rejected the capital plans of two large
banks, the U.S. units of Deutsche Bank AG (DB) and Banco Santander
SA (SAN).
Shares of Acadia Pharmaceuticals Inc
(http://www.marketwatch.com/story/shake-shack-shares-fall-6-after-earnings-miss-2015-03-11).(ACAD)
were down 25% in premarket trade after the drug maker said late
Wednesday it would delay submitting a new-drug application for
Nuplazid until later this year.
Shares of Box Inc.(BOX) were down 12% after the company, which
launched its IPO in January, posted a wider-than-expected loss
(http://www.marketwatch.com/story/box-inc-reports-wider-than-expected-loss-2015-03-11)on
higher costs.
Shake Shack Inc
(http://www.marketwatch.com/story/shake-shack-shares-fall-6-after-earnings-miss-2015-03-11).(SHAK)
was off about 6% after the burger chain missed fourth-quarter
earnings forecasts. Krispy Kreme Doughnuts Inc.(KKD) may also fall
after the company posted disappointing sales growth
(http://www.marketwatch.com/story/krispy-kreme-reports-disappointing-sales-growth-2015-03-11-17485364).
Dollar General Corp. (DG) posted quarterly results that matched
Street estimates
(http://www.marketwatch.com/story/dollar-general-meets-on-profit-to-open-730-storese-in-2015-2015-03-12)
on profit and announced that it planned on opening 730 stores this
year.
Shares of Children's Place Inc.(PLCE) were off after the kid's
apparel retailer posted disappointing earnings outlook
(http://www.marketwatch.com/story/childrens-places-stock-falls-after-disappointing-profit-outlook-2015-03-12)
after beating fourth-quarter profit expectations.
Lumber Liquidators Holdings Inc. (LL) is up about 3%, after the
company came out and said same-store sales are down about 12.7%
since health concerns were raised in a "60 Minutes" report.
Hovanian Enterprises Inc.(HOV) is due to report results ahead of
the market open on Thursday.
Alibaba Group Holding Ltd.(BABA) will invest $200 million in a
deal for Snapchat that brings the messaging company's value up to
$15 billion, according to sources cited by The Wall Street Journal
(http://www.wsj.com/articles/alibaba-invests-in-snapchat-1426128199).
Valeant Pharmaceuticals Inc
(http://www.marketwatch.com/story/valeant-committed-to-salix-deal-despite-endo-offer-2015-03-11).(VRX)
said late Wednesday it remains "firmly committed" to its
$158-a-share offer for Salix Pharmaceuticals Ltd.(SLXP) despite a
higher bid from Endo International(ENDP).
Other markets: U.S. crude prices
(http://www.marketwatch.com/story/gold-rebounds-but-remains-near-november-lows-2015-03-12)(CLJ5)
rose but gains were muted after rising oil-supply data, while gold
prices
(http://www.marketwatch.com/story/gold-rebounds-but-remains-near-november-lows-2015-03-12)(GCJ5)
showed signs of a rebound.
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