Stock Futures Flat Ahead of Jobless Claims
NEW YORK (TheStreet) -- U.S. stock futures were little changed Thursday as investors awaited weekly jobless claims and as markets took a breather following Wednesday's surge on the Federal Reserve's shift in economic stimulus.
The Fed announced Wednesday that it would start in January to scale back its monetary stimulus program to $75 billion a month in asset purchases. The central bank has been purchasing $85 billion -- $40 billion in mortgage-backed securities and $45 billion in longer-term Treasuries -- and decided to reduce purchases of each of its asset-purchase categories by $5 billion.
The news fueled U.S. equities to all-time highs and to one of the best intraday performances for 2013.
Investors are looking next to initial jobless claims, expected at 8:30 a.m. EST on Thursday. Economists forecast claims for the week ended Dec. 14 to rise 337,000, which would be a drop from the prior week's reading of 368,000 claims.
At 10 a.m., markets are anticipating the Philadelphia Fed survey, which offers investors insight into general business conditions for November. Existing home sales for November emerge at the same time as economists expect sales to rise more than 5 million, following 5.12 million in October.
In company news, Facebook
-- Written by Joe Deaux in New York.
>Contact by Email.