(RTTNews) - Stocks are poised to move higher at the open on Thursday, as better than expected jobs data has boosted trader sentiment, although by a moderate margin as the markets are still looking forward to tomorrow’s all important monthly jobs report. The major index futures are all in positive territory, with the Dow futures up by 35 points.

The Labor Department released its report on initial jobless claims in the week ended October 31, showing that first-time claims for unemployment benefits fell by more than economists had been anticipating.

The report showed that jobless claims fell to 512,000 from the previous week’s revised figure of 532,000. Economists had been expecting jobless claims to edge down to 522,000 from the 530,000 originally reported for the previous week.

A separate report from the Labor Department showed that labor productivity increased by much more than expected in the third quarter, with the report also showing a bigger than expected decrease in labor costs.

Traders are also looking to the latest data on same-store sales from the retail sector amid apprehensions over the strength of the upcoming holiday season sales.

JC Penney (JCP) saw its sales fall 4.5 percent and American Eagle Outfitters (AEO) saw sales drop by 5 percent, while sales at Aeropostale (ARO) and Gap (GPS) rose by 3 percent and 4 percent, respectively, outlining some of the mixed results on the day.

After the markets closed on Wednesday, Cisco Systems (CSCO) reported first quarter adjusted net income of $0.36 per share, compared to $0.42 per share in the year-ago quarter. Net sales for the quarter declined 12.7 percent to $9.0 billion. Wall Street analysts expected the company to earn $0.31 per share on revenue of $8.74 billion.

Qualcomm (QCOM) reported fourth-quarter net income of $0.48 per share, failing to meet forecasts of $0.52 per share. Total revenues for the quarter declined to $2.7 billion from $3.3 billion, also falling short of the estimates.

Meanwhile, Sara Lee (SLE) announced first quarter net income of $0.41 per share, firmly beating the expected $0.16 per share. Net sales came in at $2.59 billion, well short of the analyst consensus of $3.16 billion.

Stocks closed mixed for a second straight session on Wednesday, giving up earlier gains following news that the Federal Reserve left interest rates near record lows amid continued economic concerns. The Nasdaq closed down by 2 points at 2,056, while the Dow rose by 30 points to 9,802 and the S&P 500 gained 1 point to close at 1,047.

Crude oil futures are edging up $0.02 to $80.42 a barrel after rising by $0.80 to $80.40 on Wednesday. Gold futures are also moving higher, rising by $6.00 to $1,093.30 an ounce after gaining by $2.40 to close at $1,087.30 per ounce in the previous session.

On the currency front, the U.S. dollar is moving lower against the major European currencies, falling to $1.4886 versus the euro and declining to $1.6617 versus the pound. The dollar is also lower against the Japanese yen, trading at 90.53 yen.

In overseas trading, stock markets across the Asia-Pacific region closed mostly lower on Thursday. Japan’s benchmark Nikkei 225 Index fell by 1.3 percent, while Hong Kong’s Hang Seng Index fell 0.6 percent.

The major European markets are also moving lower, with the U.K.’s FTSE 100 down by 0.5 percent, while the French CAC 40 Index and the German DAX Index are down by 0.3 percent and 0.4 percent, respectively.

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Posted in Categories: Economy, Eurozone, Japan, Releases, USA.

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