Stocks Futures Gain on Greek Hopes, Jobs Data
NEW YORK (TheStreet) -- U.S. stock futures were pointing to a stronger open Thursday as the market grew more confident that Greece would complete a crucial debt restructuring deal and avoid a chaotic default.
Futures for the Dow Jones Industrial Average were jumping 59 points, or 72.6 points above fair value, at 12,900. Futures for the S&P 500 were up 8.7 points, or 9.5 points above fair value, at 1361, and futures for the Nasdaq were gaining 15.7 points, or 16.6 points above fair value, at 2624.
Stocks finished higher Wednesday following Tuesday's worst plunge of the year on the back of better-than-expected jobs data, news that the Federal Reserve may yet aid the economy and progress on Greece's debt restructuring.
In the U.S., the Labor Department reported that the number of Americans filing for first-time unemployment benefits rose by 8,000 to 362,000 last week from a revised 354,000 the preceding week. Analysts surveyed by Thomson Reuters expected weekly initial jobless claims for the week ended March 3 to fall to 350,000 from an originally reported 351,000. The four-week moving average was 355,000, an increase of 250 from the previous week's revised average of 354,750.