U.S. investors get employment, manufacturing, leading indicator reports for Thursday's session.
June 19, 2003: 5:33 AM EDT
By Mark M. Meinero, CNN/Money Staff Writer
NEW YORK (CNN/Money) - Gauges of employment, manufacturing and the overall economy are on investors' schedule Thursday after a stock market session that favored techs over blue chips.
At 5:30 a.m. ET, futures pointed to a flat to higher open.
Economic reports will be sprinkled throughout the morning, starting with the weekly report on initial jobless claims due before the opening bell. Economists surveyed by Briefing.com expect to see a slight decline in the week ended June 14 to 425,000 from 430,000 the prior week. That would still signal economic weakness, since it would be well above the benchmark 400,000.
Shortly after the open, the Conference Board issues the index of leading indicators for May. A rise of 0.7 percent is forecast, well above the 0.1 percent gain of April and a sign that the economy may be ready to break out of its doldrums.
Another such sign may come closer to midsession when the Philadelphia Federal Reserve issues its June report on regional economic activity. The index is expected to climb to 4.1 from minus 4.8 in May.
Also on the schedule before the opening bell will be the earnings report from financial services provider Lehman Brothers (LEH: Research, Estimates). Profit for the company's second quarter is expected to have risen to $1.17 a share from $1.08 a year earlier, according to a consensus of analysts at First Call. Lehman shares fell $1.40 to $73.99 Wednesday.
For details of Wednesday's session, click above
The Dow Jones industrial average slipped back Wednesday from its recent highs, due in large part to a warning from component Eastman Kodak (EK: Research, Estimates). But the loss was just 0.3 percent. The Nasdaq composite index managed a gain of 0.5 percent.
Asian-Pacific stocks ended higher Thursday, with Tokyo's Nikkei index up 1.2 percent. European markets were flat to lower in early trading. (Check the latest on world markets)
Among U.S. stocks trading in Europe, Microsoft was slightly higher. The U.S. government has asked a federal appeals court to uphold the antitrust agreement reached last year with the software maker.
Treasury prices continued a recent slide, sending the 10-year note yield up to 3.38 percent from 3.36 percent late Wednesday. The dollar strengthened against the yen and euro.
Brent oil futures pulled back 39 cents to $25.87 a barrel in London, where gold was lower in early trading.
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