Stock futures signal higher open, focus on data

(Reuters) - Stock futures pointed to a higher open on Wall Street on Thursday, with futures for the S&P 500, the Dow Jones and the Nasdaq 100 up 0.3 to 0.4 percent.

The S&P 500 index erased earlier losses to close flat on Wednesday after minutes from the latest Federal Reserve meeting indicated the central bank might be ready for another round of stimulus.

First-time claims data for jobless benefits for the week ended August 18 is due at 1230 GMT. Economists forecast a total of 365,000 new filings, compared with 366,000 in the prior week.

U.S. flash preliminary Markit manufacturing PMI for August is due at 1258 GMT. Economists expect a reading of 51.2, versus 51.4 in the final July report.

Boeing Co's second-largest union, the Society of Professional Engineering Employees in Aerospace (SPEEA), said it had filed a complaint against the planemaker, alleging it had violated labor law during an employee orientation meeting.

The Commerce Department releases new home sales for July at 1400 GMT. Economists forecast a total of 365,000 annualized units, compared with 350,000 in June.

China's manufacturing sector contracted at its sharpest pace in nine months in August, according to a survey that showed falling export orders and rising inventories, a signal that more policy stimulus may be needed to engineer a second half pick-up in growth.

Germany's private sector shrank for the fourth month running in August, surveys showed, suggesting Europe's powerhouse economy is feeling the headwinds from the euro zone crisis as orders from abroad for its goods fell at the fastest rate in more than three years.

European shares <.fteu3> were 0.3 percent higher early on Thursday as fresh signs that the U.S. Federal Reserve may launch new stimulus measures more than offset persistent worries over the euro zone debt crisis.

The Dow Jones industrial average <.dji> dropped 30.82 points, or 0.23 percent, to 13,172.76 on Wednesday. The Standard & Poor's 500 Index <.spx> added 0.32 of a point, or 0.02 percent, to 1,413.49. The Nasdaq Composite Index <.ixic> gained 6.41 points, or 0.21 percent, to 3,073.67.

(Reporting by Atul Prakash; Editing by Susan Fenton)

Source: http://news.yahoo.com/stock-futures-signal-higher-open-focus-data-081409633--finance.html

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