* S&P 500 poised to gain after three days of losses
* No market reaction to small weekly jobless claims rise
* Spotlight on JPMorgan shares after news of U.S. criminal
* Tesla Motor and Groupon rally after results
* Futures up: Dow 60 pts, S&P 6.2 pts, Nasdaq 13.75 pts
By Ryan Vlastelica
NEW YORK, Aug 8 U.S. stock index futures pointed
to a higher open on Thursday and a rebound from three straight
days of losses, though gains may be hard to come by with few
Stocks are down for the week so far, pulling back from
record levels on concerns the Federal Reserve will start to
reduce its stimulus efforts this year as the economy recovers.
Investors shrugged off data showing U.S. weekly jobless
claims rose to 333,000 in the latest week, an increase that was
less than expected.
Equity markets' behavior has been closely tied to central
bank policy, with many investors concerned economic growth may
lose steam without the Fed's help.
The S&P 500 index fell below its 14-day moving average of
1,694.06, which had been a support level. Still, the index is up
almost 19 percent in 2013.
Wall Street may struggle to return to its recent record
highs, given a dearth of catalysts. Daily trading volume this
week has been among the lowest this year.
Investors appear to have digested the uncertainty over the
continuation of the U.S. central bank's stimulus measures.
"There are still concerns about the Fed, but I think they
have largely been priced into markets," said Randy Billhardt,
head of capital markets at MLV & Co in New York. "The trend of
the market should remain higher."
S&P 500 futures rose 6.2 points and were above 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 futures added 60
points and Nasdaq 100 futures rose 13.75 points.
JPMorgan Chase & Co will be in focus a day after the
company said it faces a criminal probe by the U.S. Justice
Department over sales of mortgage-backed securities. Shares of
the Dow component were 0.7 percent lower to $54.93 in premarket
Retail stocks will be in the spotlight as companies report
their monthly same-store sales data. Costco Wholesale Corp's
July sales came in below expectations.
Shares of Tesla Motors Inc jumped 15 percent to
$154.25 in premarket trading a day after the electric car maker
posted an unexpected quarterly profit. The stock has been a
major momentum favorite this year, up almost 300 percent in
Groupon Inc shares soared 23.5 percent to $10.77
before the bell. On Wednesday, the online coupon company
reported revenue that exceeded expectations and named its
co-founder as chief executive.
Priceline.com Inc and Nvidia Corp are
scheduled to report results later Thursday.
Green Mountain Coffee Roasters Inc late Wednesday
reported third-quarter revenue that missed expectations, though
it raised its full-year profit view. Shares fell 4.8 percent to
$75.42 in premarket trading.
Of 434 companies in the S&P 500 that reported earnings
through Wednesday morning, Thomson Reuters data showed that 66.8
percent topped analysts' expectations, in line with the 67
percent beat rate over the past four quarters. In terms of
revenue, 54.1 percent beat estimates, more than in the past four
quarters, but below the 61 percent average since 2002.
Overseas, shares climbed on optimism after China's July
exports rose 5.1 percent, topping expectations and spurring hope
the world's second-largest economy might be stabilizing after
more than two years of slowing growth.