Sentiment is precariously poised on Thursday, as Wall Street awaits some key economic data on the job market and the service sector and two important central bank decisions across the Atlantic. At a bond auction, Spain raised debt, in line with its maximum targeted amount, while yield was higher than in a June auction. Traders may also take some cues from the monthly sales results of the nation's retailers. Commodities are modestly weaker and risk currencies are also trading lower.
As of 6:30 am ET, the Dow futures are unchanged and the S&P 500 futures are edging down 0.30 points, while the Nasdaq 100 futures are moving up 1.25 points.
U.S. stocks ended Tuesday's truncated session on a moderately positive note in thin pre-holiday trading, helped by the strength in the resource space, positive monthly auto sales and better than expected factory orders reported for May.
On the economic front, the ADP National Employment report is scheduled to be released at 8:15 am ET. The consensus expectations are for an addition of 13,000 jobs by the private sector in June following an addition of 133,000 jobs in May.
The Labor Department is due to release its customary jobless claims report for the week ended June 30th at 8:30 am ET. Economists expect claims to remain unchanged at 386,000 in the recent reporting week.
Additionally, the Institute for Supply Management is scheduled to release the results of its non-manufacturing survey at 10 am ET. The non-manufacturing index is likely to show a reading of 53 for June, lower than 53.7 in May.
The Energy Information Administration is scheduled to release its weekly petroleum inventory report for the week ended June 29th at 11 am ET.
In corporate news, Christopher & Banks (CBK) announced that it has received a letter from Aria Partners, indicating its interest in acquiring all outstanding shares of the company for $1.75 per share.
RealNetworks (RNWK) announced the resignation of its president and CEO Thomas Nielsen. The company appointed its chairman and founder as its interim CEO, effective immediately.
SMSC (SMSC) reported first quarter non-GAAP earnings of 53 cents per share on revenues of $103.1 million. In the year-ago quarter, the company reported non-GAAP earnings of 47 cents per share on revenues of $103.50 million. The results were better than expected.
RalCorp. (RAH) said its corporate VP and president of Ralcorp Cereal products Ronald Wilkinson has announced his plans to retire from the company, effective September 30th, 2012.
Costco (COST) reported same store sales growth of 3 percent year-over-year in June.
