Strong earnings override trade concerns, stocks little changed

By Baystreet Market Updates

U.S. stock index futures barely budged prior to the start of Thursday’s trading session, ahead of another batch of corporate earnings.

Futures for the Dow Jones Industrials gained 21 points, or 0.1%, to 25,557

S&P 500 futures took on three points, or 0.1%, to 2,858.25, while futures for the NASDAQ composite inched up 0.25 points to 7,471.75.

Entering Thursday’s session, the S&P 500 was just 0.5% away from reaching 2,872.87, a record high set on Jan. 26.

On Wednesday, U.S.Treasury yields came under pressure after Beijing announced it would counter the most recent round of U.S. tariffs with its own. The Chinese Ministry of Commerce announced a 25% charge on $16 billion worth of U.S. goods. In total, 333 goods have been picked out by China, including vehicles, various types of fuels, recyclables and fiber optical cables.

However, strong earnings from Adidas, Roku, and Yelp after the close of trading Wednesday helped to offset concerns about the escalating trade spat.

In other corporate news, Norwegian Cruise Line reported quarterly earnings that topped analyst expectations on Thursday. The stock jumped more than 4%.

Key economic data scheduled for today includes jobless claims and producer price index (PPI) data, both due out at 8:30 a.m. ET, followed by wholesale trade at 10 a.m. ET.

Overseas, in Japan, the Nikkei 225 lessened 0.2% while in Hong Kong, the Hang Seng index sprang up 0.9%.

Oil prices eked up one cent to $66.95U.S. a barrel.

Gold prices gained $1.90 to $1,222.90U.S. an ounce.

This article provided by NewsEdge.