Stock futures continue to trail fair value, indicating a lower start to the session.
Given continued concern regarding economic malaise, oil futures are
also down substantially. Crude futures are currently indicated near
$50.50 per barrel, off 5.8%. The dollar has advanced 0.5%, according
to the dollar index. The dollar index stands at 87.8.
Stock futures have taken a dip following disappointing weekly claims
data. Initial jobless claims for the week ended November 15 totaled
542,000. Economists projected claims would total 505,000. Claims for
the prior week were revised slightly lower to 515,000. This marks the
first time initial claims have been at or above 500,000 for two
consecutive weeks since 2001. Further reflecting labor market
weakness, continuing claims totaled 4.01 million, which is up from the
3.90 million continuing claims registered last week. The consensus
called for continuing claims of 3.90 million this week.
Companies: The personal computer maker Dell is due to report its
financial results after the market close. The company is expected to
post a 9% drop in earnings to 31 cents per share, according to a
consensus of analysts surveyed by Briefing.com.
Oil continues to plunge toward the $50 mark. Oil prices fell $1.41 a barrel to $52.21.
