From Nasdaq Media Group:

This Thursday morning contains important market data, with pre-market futures indicating overall positive vibes, with the Dow +116 points, the S&P 500 +13, and the Nasdaq +53 points ahead of the opening bell. Weekly Initial Jobless Claims continue to be lower than projections, indicating a strong labor market on a week-by-week scale. However, Continuing Jobless Claims have bounced to their highest level since mid-November last year. Retail sales for January came in lower than expected, with goods prices particularly affected. Import Prices for January surprised to the upside, while for February, Empire State and Philly Fed manufacturing both improved. In terms of Q4 earnings reports, Deere & Co. beat estimates, Wendy’s missed earnings estimates, and Shake Shack beat by two cents. Looking ahead, more earnings results are expected to be released after today’s close.

The Weekly Initial Jobless Claims for the week remain lower than projections, indicating a strong labor market. However, Continuing Jobless Claims have bounced to their highest level since mid-November last year, indicating a weakening employment picture over the longer term.

Retail sales for January saw a surprising drop, with goods prices being particularly affected in categories such as Building Materials and Gardening, Motor Vehicles, and Electronics. This represents the biggest month-over-month drop since March of 2023. However, Import Prices for January surprised to the upside, with year-over-year Import Prices being revised down.

February Empire State and Philly Fed manufacturing numbers both surprised to the upside, indicating an improvement for the manufacturing sector. In terms of Q4 earnings reports, Deere & Co. beat estimates, Wendy’s missed earnings estimates, and Shake Shack beat by two cents.

After today’s close, we’ll see more earnings results from key firms such as Coinbase, Applied Materials, Dropbox, and The Trade Desk, and an updated survey on Homebuilders’ confidence. The state of the market remains to be seen as the day progresses.



Read more: Big Econ Data with Plenty Surprises; Plus DE, WEN, SHAK Report