By Barbara Kollmeyer, MarketWatch
MADRID (MarketWatch) -- U.S. stock futures held largely to the
flat line on Thursday, as investors awaiting the outcome of the
European Central Bank meeting.
Shares of Tesla Motors Inc. and Whole Foods Markets Inc. were
moving higher after earnings late Wednesday.
Futures for the Dow Jones Industrial Average (DJZ4) fell 3
points to 17,410, while those for the S&P 500 index (SPZ4) fell
2.1 points to 2,016.60. Futures for the Nasdaq-100 index (NDZ4)
were flat at 4,142.75.
News that the Republicans retook the Senate helped pushed the
S&P 500 (SPX) and Dow industrials (DJI) to fresh closing highs
on Wednesday. And while history shows that markets tend to get a
boost after the midterm elections, central banks were back in focus
for Thursday. Europe stocks were lower ahead of a decision from the
European Central Bank, due at 7:45 a.m. Eastern Time.
Need to Know: Gold doesn't stand a chance, but utilities do
ECB in the hot seat: While no new measures are expected,
questions on corporate bond purchases are expected to draw
attention at a news conference with ECB President Mario Draghi at
8:30 a.m. Eastern.
Richard Perry, market analyst at Hantec Markets, said in a note
Thursday that markets will be looking for signs of further easing
down the road. "This means if Draghi has had his wings clipped, the
market could be disappointed," he said, referring to recent
speculation that several of the ECB's governing council members are
unhappy with how Draghi has been running the show. Read: ECB
discord could 'neuter' Draghi's power
Given growth and inflation are still low, Draghi is "likely to
keep the door open to further action," said analysts at Societe
Generale in a note.
Ahead of Friday's big jobs report, weekly jobless claims data is
due at 8:30 a.m. Eastern Time, along with third-quarter
productivity figures and unit labor costs.
Then there are Federal Reserve speakers: Chicago Fed President
Charles Evans will give welcoming remarks at 17th Annual
International Banking Conference at 10:40 a.m. Eastern. Evans will
be a voting member of the Fed policy committee in 2015.
Fed Gov. Jerome Powell will deliver a speech on central clearing
of over-the-counter derivatives at the Chicago Fed's International
Banking Conference at 1:30 p.m. Eastern. And Cleveland Fed
President Loretta Mester, a voting member of the Fed policy
committee, will give a speech in New York at 7:15 p.m. Eastern.
Tesla, Whole Foods among stocks to watch: Tesla (TSLA) was up
nearly 6% in premarket trade after the electric-car maker's results
topped expectations, though it lowered its delivery forecast for
2014.
Whole Foods (WFM) climbed over 8% after the upscale grocer
reported a rise in third-quarter earnings and lifted its quarterly
dividend.
The Walt Disney Co. (DIS) , Zynga Inc. (ZNGA) are King Digital
Entertainment PLC (KING) all report earnings on Thursday.
Apple Inc. (AAPL) could draw attention after Palo Alto Networks
Inc. (PANW) said it has discovered a new malware threat that could
threaten millions of Apple Inc. devices.
Other markets: The Nikkei 225 fell 0.9%, pulling back after
gaining more than 10% in the previous five sessions. The losses
came despite a seven-year high for the U.S. dollar (USDJPY) against
the yen, which tapped Yen115 before pulling back. Oil(CLZ4) prices
were steady, while gold(GCZ4) was slightly lower.
Subscribe to WSJ: http://online.wsj.com?mod=djnwires