(MENAFN- ProactiveInvestors) U.S. stock-index futures seesawed after paring an earlier loss as data showing jobless claims hovered near the lowest in 15 years.
Futures for the Dow Jones Industrial Average fell 0.1 percent to 17764 while those for the S&P 500 index fell 0.1 percent to 2073. Futures for the Nasdaq-100 index also were about where the ended yesterday at 4369.
Stocks fell Wednesday for a second session in a row. Wednesday’s losses were spurred by comments from Chairwoman Janet Yellen who suggested the multi-year rally in stocks may have driven prices too high and raised concerns that debt investors are taking excessive risks.
The U.S. stock market has been choppy this year with the Dow up just 0.1 percent in 2015 through yesterday’s close. The S&P has gained 1 percent for the year
DATA/FED SPEAKERS:
Fewer Americans than forecast filed applications for unemployment benefits last week dropping the average over the past month to the lowest in 15 years indicating companies are holding on to workers. Jobless claims rose 3000 to 265000 in the week ended May 2 a Labor Department report showed today.
Consumer credit numbers for March are due at 3 p.m.
Chicago Fed President Charles Evans will give an interview on CNBC at 8:30 a.m. Eastern.
MOVERS:
Alibaba (NYSE:BABA) jumped 10.4 percent in premarket trading as the Chinese e-commerce giant reported a better-than-expected rise in quarterly revenue.
Tesla shares () fell as much as 3.1 percent after the electric carmaker reported a wider quarterly loss and said the strong dollar would crimp gross margins.
Lumber Liquidators (NYSE:LL) fell as much as 2.3 percent after CNBC reported that the hardwood retailer is halting sales of all its Chinese laminate flooring.
Whole Foods Market (NASDAQ:WFM) slid 12.5 percent after the organic food retailer reported a slowdown in quarterly same-store sales growth.
Apache () slipped 0.5 percent after the energy company swung to a first-quarter loss on impacts from low crude prices that contributed to a sharp decline in revenue and a big write-down.
COMMODITIES:
Spot gold was down 0.4 percent to $1186.23 an ounce by 7:48 a.m. holding below the key $1200 level for a fifth day. U.S. gold futures for June delivery dropped $4.70 to $1185.50 an ounce.
Brent crude was up 25 cents a barrel at $68.03 by 6:45 a.m. It hit a 2015 high of $69.63 yesterday. U.S. crude was down 15 cents at $60.78 a barrel.
OTHER MARKETS:
Stocks in Asia closed sharply lower following Chairwoman Janet Yellen’s warning on stock valuation while European markets slumped amid weakness in the bond market.
The euro touched a ten-week peak tracking European bond yields higher and benefiting from a sell-off in the dollar.
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