Futures Dip After Jobless Claims; MS Rises
U.S stock index futures slipped slightly Thursday following the jobless claims report and ahead of the start of a two-day EU summit in Brussels.
- Stocks to Watch: MS, VZ, TRV & More
Weekly jobless claims rebounded 46, 000 to a seasonally adjusted 388, 000, according to the Labor Department.
Last week, claims tumbled to 339, 000, hitting the lowest level since February 2008, but the report was distorted by one large state not posting its claims number for the week as expected.
European shares edged lower as EU leaders prepare to meet at a summit in Brussels where they will try to bridge differences over plans for a banking union, a step to solve the ongoing sovereign debt crisis. This marks the fourth time EU leaders have met this year and the 22nd summit held since the start of the crisis in 2009.
Read More: Cost of Four Euro Exits? $22 Trillion—Study
However, European officials are not expected to discuss Greece, Spain or Cyprus at the summit, according to a Reuters report. Meanwhile, a 24-hour general strike is expected in Greece on Thursday.
Among earnings, Morgan Stanley rose after the banking giant reported quarterly earnings and revenue that beat analysts' expectations.
Verizon edged higher after the wireless telecommunications company posted earnings that matched expectations, while revenue topped Wall Street estimates .
Dow component Travelers posted earnings that topped expectations, while revenue fell slightly short. Travelers was able to increase rates in all business lines and also retain customers, a strong sign for the rest of the industry. The company has been a bellwether for insurers' ability to raise pricing after years of weakness.
Google, Microsoft, AMD and Capital One are among major companies scheduled to report earnings after the closing bell.
Also on the economic front, the Philadelphia Fed index, which measures changes in business growth, will be released at 10 am ET. Economists polled by Reuters forecast new orders grew in October to give a reading of 1, up from -1.9 in September.
In addition, the Conference Board releases its leading economic indicators index for September. Economists polled by Reuters forecast a 0.2 percent rise, compared with a 1.9 percent fall in August.
—By CNBC's JeeYeon Park (Follow JeeYeon on Twitter: @JeeYeonParkCNBC)
Coming Up This Week:
THURSDAY: Philadelphia Fed survey, leading indicators; Earnings from Google, Microsoft, AMD, Capital One, Chipotle, E-Trade
FRIDAY: Existing home sales; Earnings from GE, McDonald's, Schlumberger, Honeywell, Edward Lifesciences
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