By Chris Dieterich
U.S. stock futures ticked lower on Thursday as investors weighed
renewed tension on the Russia-Ukraine border against upbeat
economic reports.
Futures on the Dow Jones Industrial Average fell 46 points, or
0.3%, to 17047 less than 60 minutes before the opening bell.
S&P 500 index futures declined six points, or 0.3%, to 1990.
Nasdaq-100 Index futures dropped 11 points, or 0.3%, to 4062.
Changes in futures prices don't necessarily translate into
actual stock moves after the opening bell.
Thursdays' more cautious tilt puts in jeopardy a three-session
streak of gains for the S&P 500 that carried the index over
2000 for the first time.
U.S. stock futures fell to overnight lows following reports of a
resurgence in tensions between Ukraine and Russia, which stocks in
Europe tumbled on above-average volume.
The Stoxx Europe 600 fell 0.7%, while Germany's DAX sank 1.3%.
Russia's Micex fell 2.2%
Stock futures remained subdued after a second reading on
second-quarter gross domestic product showed a better-than-forecast
4.2% growth rate from April to June. The snapback helps confirm an
initial 4% reading on the heels of a decline of 2.1% in the first
quarter.
The number of Americans filing for unemployment claims declined
to 298,000 in the most recent week, slightly better than
expected.
Later, pending sales of existing homes are expected to rise by
0.6% in July. Separately, an August survey of business conditions
for manufacturers in the Kansas City region will follow an upbeat
view from the Richmond area earlier in the week.
Yields on benchmark U.S. 10-year Treasury bonds fell to 2.341%,
from 2.361% late on Wednesday.
Gold futures rose 1.1% to 1296.90 a troy ounce. Crude oil
futures added 0.2% to $94.02 a barrel. The dollar lost rose versus
the euro but fell against the yen.
Asian markets were mostly lower. China's Shanghai Composite
dropped 0.6%, while Japan's Nikkei Stock Average fell 0.5%.
Williams-Sonoma fell 11% in premarket trading after the high-end
housewares retailer forecast third-quarter earnings that were lower
than expected.
Workday rose 1.3% after the business software company posted
rising revenues and a smaller-than-expected loss for the second
quarter.
Abercrombie & Fitch slumped 4.9% after sales for the teen
retailer fell more than expected in the most recent quarter.
Write to Chris Dieterich at chris.dieterich@wsj.com