US Stock Futures Slip Deeper Into Red as Jobless Claims Meet Views

U.S. equities futures were solidly in the red closer to the open after weekly jobless data were in line with the consensus, suggesting the job market remains in good shape, and as export prices fell more than expected.

Jobless claims in the week ended Sept. 5, fell as expected to 275,000, from a revised 281,000 (was 282,000) in the preceding week. The consensus range was between 265,000 and 278,000, according to data compiled by Econoday. The employment situation is one of the key factors that the Federal Open Market Committee will consider when it decides whether to raise the interest rate at its Sept. 16-17 meeting.

Meanwhile, prices dropped 1.4% in August, a steeper drop than the 0.4% decline expected. For July, it was revised down to a 0.4% decline from previously reported down 0.2%. Import prices fell 1.8%, slightly more than the 1.6% decline expected. For July import prices were unrevised at a decline of 0.9%.

In equities, transportation, logistics and supply-chain management provider Con-way (CNW) surged over 33% in recent pre-market trade after XPO Logistics (XPO) said it will acquire the company for $47.60 per share or $3 billion, including debt.

Authors
Top