Stock Futures Mixed After Market Loses Steam This Week

New York (Dec 29)  Stock futures were mixed to flat Thursday morning as markets adjusted to losses on Wednesday and as investors await fresh economic data.

S&P 500 futures were up 0.03%, Dow Jones Industrial Average futures fell 0.03%, and Nasdaq futures declined 0.03%.

After the markets took a negative turn Wednesday, the Dow moved further away from the 20,000 milestone that investors have been eyeing over the last two weeks. Since the election of Donald Trump, markets have buoyed on hopes of lighter regulation and tax cuts, but the end of the post-election rally could be at hand as the year comes to a close.

Some key economic data will be released Thursday that could push the markets lower if the data doesn't seem to be moving the economy in the right direction. At 8:30 a.m., jobless claims data will be released by the U.S. Department of Labor, highlighting the new unemployment claims filed last week. At the same time, international trade data will be released.

Crude oil prices closed with gains for the fifth consecutive day as investors anticipate a decrease in the production of global oil supplies based on an earlier agreement by the Organization of Petroleum Exporting Countries. At 11 a.m., the U.S. Energy Information Administration will release its weekly petroleum status report.

West Texas Intermediate crude oil turned lower, down 0.3% to $53.90 a barrel on Thursday. Brent crude, the global benchmark, traded at $56.35, up 0.23%.

Sprint (S)  shares popped after the company announced Wednesday that it was going to "create or bring back" 5,000 jobs to the U.S. in 2017.  This announcement was part of an earlier plan by SoftBank, which owns more than 80% of Sprint, to create 50,000 jobs and invest $50 billion in U.S. companies. However, President-elect Trump on Wednesday made the announcement seem as if this was a new agreement with Sprint. Sprint's shares were up 0.34% to $8.75 in premarket trading.

Source: TheStreet