U.S. stock futures flipped slightly higher Thursday after falling overnight, as investors assess whether markets have settled after the U.K.’s Brexit vote prompted a rout, then a rally.
In focus later will be a speech by a key Federal Reserve policy maker, St. Louis Fed President James Bullard, and a weekly update on jobless claims.
Futures for the Dow Jones Industrial Average YMU6, +0.29% were up 45 points, or 0.3%, to 17,669.00, and futures for the S&P 500 index SPU6, +0.27% picked up 4.95 points, or 0.2%, at 2,071.75. Nasdaq-100 futures NQU6, +0.23% were up 8.75 points, or 0.2%, at 4,371.50.
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Futures for each of the indexes were in the red earlier Thursday, as crude-oil prices pulled back from their gain on Wednesday, the biggest since early April.
“Market sentiment seems to be settling down, as the volatility following last week’s Brexit continues to subside,” said Richard Perry, market analyst at Hantec Markets, in a note.
“However, it appears that markets have developed into more of a consolidation and there will be fears that this could simply have been an unwinding move that provides another chance to sell,” he added.
Economic docket: St. Louis Fed chief Bullard is set to speak at the Society of Business Economists’ annual dinner in London at 3:20 p.m. Eastern Time. Bullard, a voting member this year on the Federal Reserve’s rate-setting board, said earlier this month the Fed could hold monetary policy steady considering the trend of tepid 2% growth, along with a low unemployment rate and subdued inflation.
As for data, the Labor Department’s report on weekly filings for jobless benefits is set for release at 8:30 a.m. Eastern. Economists polled by MarketWatch expect a rise in claims of 265,000. A June measure of Chicago-area economic activity, the Chicago PMI, is due at 9:45 a.m. Eastern.
Stocks to watch:Yahoo Inc.YHOO, +2.28% and its CEO, Marissa Mayer, will be in the spotlight as shareholders hold their annual meeting.
Darden Restaurants Inc. DRI, +1.10% , whose chains include Olive Garden and The Capital Grille, is slated to release fourth-quarter results ahead of the bell.
ConAgra Foods Inc.CAG, +1.06% , whose brands include Reddi Wip and Hunt’s, is also on tap to issue fourth-quarter results premarket.
Svedka vodka and Negra Modelo beer maker Constellation Brands Inc.STZ, +1.10% is expected to release first-quarter results premarket.
Shares of StarzSTRZA, +2.65% and Lions Gate Entertainment Corp.LGF, +4.13% moved higher in after-hours trade Wednesday following a Bloomberg News report that the two entertainment companies were in advanced talks to merge.