Stock futures point to a higher start for Wall Street; jobless claims, LEI, brokerage earnings due.
December 18, 2003: 7:48 AM EST
NEW YORK (CNN/Money) - Reports on the economy and a smattering of key earnings will help investors determine the direction for stocks when the markets open Thursday morning.
S&P and Nasdaq futures edged upward, pointing to a mixed to higher start for equities on Wall Street.
Blue-chip stocks edged higher Wednesday, hitting fresh 19-month highs, while the Nasdaq composite index slipped a bit.
Due before the opening bell: weekly jobless claims and earnings from two investment banks, Goldman Sachs and Morgan Stanley. After trading starts, the leading economic indicators for November will be released.
Overseas, the dollar hit a record low against the euro for a fifth straight trading session, but European policy-makers showed few signs of worry about the euro's recent strength. A strong euro can hurt European exporters by making European exports more expensive on world markets.
Treasury bond prices rose, pushing the yield on the 10-year bond down to 4.16 percent from 4.18 percent late Wednesday. Bond prices and yields move in opposite directions.
On the economic front, analysts forecast that new claims for state unemployment benefits fell to 365,000 last week from 378,000 claims the prior week, which would be another sign of an improving labor market.
The leading indicators, meant to forecast the economy's direction in the coming months, probably rose 0.3 percent last month after October's 0.4 percent, according to economists surveyed by Briefing.com. Also due is a report on regional manufacturing in the Philadelphia area.
In addition to Goldman Sachs and Morgan Stanley, quarterly results are due from cruise ship operator Carnival, handheld maker palmOne Inc. and retailer Family Dollar.
Investors may also be taking a look at Raytheon, Scholastic, Bed Bath & Beyond and Tibco after those companies made news after Thursday's closing bell.
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