(MENAFN- ProactiveInvestors) U.S. stock futures were moving in both directions in early trading after the Swiss National Bank unexpectedly scrapped its cap on the franc today while jobless claims rose to their highest level since September.
The Dow was headed into today's session on the back of a four-day losing streak for the first time in three months.
It was a busy day on the economic calendar Thursday with jobless claims for the week ending January 9 rising 19000 to 316000 topping the 300000 mark for the first time since Thanksgiving. Economists had expected claims to total 295000.
Meanwhile US producer prices saw their biggest plunge in December in more than three years dropping 0.3% on account of cheaper gas. At 10:00am ET the Philadelphia Fed is releasing its January survey.
WTI crude rebounded today after rallying 5.6% Wednesday with the contract for February delivery last up 74 cents at $49.22 a barrel in electronic trading in New York. Gold futures gained $22 to $1256 an ounce after the Swiss move.
In corporate activity (NYSE:BAC) reported profit and revenue below expectations impacted by a drop in fixed income trading revenue. Shares fell more than 2.7% premarket.
Citigroup () also shed as earnings dropped in its latest quarter and revenue fell short of estimates.
() meanwhile reported earnings that beat estimates though revenue came in slightly below expectations. The investment advisory firm also raised its quarterly dividend by 13% and bolstered its stock buyback program.
() issued earnings that were above estimates with revenue in line with forecasts as the home builder reported a 22% increase in new orders.
Elsewhere (NYSE:) said it is planning to cut 300 jobs from its North Sea business following a review of its operations amid falling oil prices while Apache () will also lay off several hundred employees cutting 5% of its workforce this week.
Caesar Entertainment (ZR) said it has filed for Chapter 11 bankruptcy for its largest operating unit. () shed more than 21% after a report in the Wall Street Journal indicated the company may file for bankruptcy protection as soon as next month.
BlackBerry (NASDAQ:BBRY) sunk more than 16% premarket after denying a report that Samsung was in talks to potentially acquire the Canadian smartphone maker. Shares of BlackBerry had rocketed up 30% late yesterday as the initial report emerged.
Target () shares rose more than 7% premarket after the company said it is exiting its loss-making business in Canada as it doesn't see the region making a profit until at least 2021.
European markets were broadly higher today with shares in France leading the region. Asian markets also closed up with China's Shanghai Composite rising 3.5%.
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