US STOCKS-Futures flat with initial claims, home sales data due

jueves 22 de mayo de 2014 07:50 GYT
 

* Initial claims, existing home sales data on tap

* Best Buy falls in premarket after results

* Futures up: Dow 8 pts, S&P 0.25 pts, Nasdaq 2.75 pts

By Chuck Mikolajczak

NEW YORK, May 22 (Reuters) - U.S. stock index futures were little changed on Thursday, ahead of data on the labor and housing markets, after the S&P 500 advanced for a third time in four sessions.

* Investors awaited weekly initial jobless claims data due out at 8:30 a.m. (1230 GMT) for signs of continuing strengthening in the labor market. Expectations call for 310,000 claims, up from the 297,000 in the previous week, which was the lowest in seven years.

* Existing home sales data for April is due later at 10:00 a.m. (1400 GMT), and will be monitored for signs of stabilization in the housing arena. Forecasts are for a rise of 2.2 percent to an annual rate of 4.68 million, after hitting a 1-1/2 year low in March.

* S&P 500 e-mini futures rose 0.25 point and were roughly even with fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average e-mini futures gained 8 points and Nasdaq 100 e-mini futures added 2.75 points.

* Best Buy Co fell 5.7 percent to $23.91 in premarket trading after the electronics retailer reported first-quarter earnings that topped expectations but revenue fell short of forecasts as domestic comparable store sales fell 1.3 percent.   Continuación...