ND: US Stock Futures Modestly Higher as ECB Leaves
U.S. equities futures were just slightly higher on Thursday after the European Central Bank left interest rates unchanged and as the market waited for weekly jobless data and the July trade deficit figures.
ECB President Mario Draghi will hold a press conference at 8:30 a.m. E.T. in Frankfurt, Germany, that will be closely watched for economic forecasts and other remarks on potential measures to support volatile markets.
At 8;30 a.m. data are expected to show that jobless claims edged up to 273,000 in the week ended Aug. 29 from 271,000 in the preceding week. The consensus range is between a 268,000 and 278,000, according to data compiled by Econoday.
At the same time, international trade data are expected to show a trade deficit in July of $42.0 billion, up from a deficit of $43.8 billion in June, and in a consensus range between a negative $45 billion and negative $39.3 billion.
In equities, one of the most active gainers in recent pre-market trade was Geron (
GERN
), higher by 19% after the biotech company said the New England Journal of Medicine will print two papers about positive test results for its Imetelstat drug against thrombocythemia, a disease in which the body produces too many blood platelets, and against myelofibrosis, a bone-marrow disease that disrupts the production of blood cells.
Lannet Company (
LCI
), the maker of oral, extended release, topical and oral solution finished dosage forms of drugs, also saw its shares rise, by 15%, after agreeing to buy Kremers Urban Pharmaceuticals for $1.23 billion. The deal is expected to be accretive to fiscal adjusted EPS.