| What to watch today: Stock futures lower after Wall Street's strong start to the week | | |  | THU, MAR 17, 2022 | | | | AS OF THU, MAR 17, 2022 • 09:13 ET | | Dow Jones Fut | | 34,063.10 | | Current: | 33,810.00 | | Change: | -144.00 | | Impl. Open: | -146.10 | | | S&P 500 Fut | | 4,357.86 | | Current: | 4,329.50 | | Change: | -20.00 | | Impl. Open: | -20.56 | | | NASDAQ 100 Fut | | 13,956.79 | | Current: | 13,860.75 | | Change: | -89.00 | | Impl. Open: | -94.04 | | | Russell 2000 Mini | | 2,030.72 | | Current: | 2,018.50 | | Change: | -9.80 | | Impl. Open: | -9.42 | | | After Wednesday's strong rally, the major U.S. stock indexes are on pace for their best weekly performance of the year. The Dow is riding a three-day win streak for the first time since early February. The S&P 500 and Nasdaq Composite have posted back-to-back positive days for the first time this month. | | | | Oil prices jumped Thursday, bucking a recent downward trend, in light of renewed supply concerns related to the Russia-Ukraine war. U.S. West Texas Intermediate (WTI) crude rose around 4.5% to trade above $99 per barrel, while international benchmark Brent crude advanced roughly 4.85% to nearly $103 per barrel. (Reuters) | | | | Initial jobless claims fell to 214,000 for the week ended March 12, lower than the Dow Jones estimate of 220,000, the Labor Department reported Thursday. It's an indication the U.S. labor market is growing even tighter than it has been. (CNBC) | | | | February housing starts also were better than expected, rising 6.8% to a seasonally adjusted annual rate of 1.77 million units, according to the Census Bureau. Consensus forecasts had called for a 3.8% rise to an annual rate of 1.7 million units. The March Philadelphia Fed Manufacturing Index jumped to 27.4, well above estimates of 15. | | | | At 9:15 a.m. ET, February industrial production figures are expected to show a 0.5% rise for the month following a 1.4% increase in January. | | |  | Lennar (LEN) reported quarterly earnings of $1.69 per share for its fiscal first quarter, missing the $2.60 consensus estimate. Revenue did beat analyst forecasts on strong demand and higher prices, but the bottom line was hit by higher costs for materials and labor. | | | | Williams-Sonoma (WSM) earned an adjusted $5.42 per share for its latest quarter, beating the $4.82 expected by Wall Street analysts, even as the housewares retailer's revenue fell slightly short of estimates. The company said it was able to successfully navigate supply chain challenges and material and labor shortages. | | | | PagerDuty (PD) lost an adjusted 4 cents per share for its latest quarter, 2 cents smaller than analysts were anticipating, with the digital operations platform provider's revenue also exceeding Street forecasts. PagerDuty also issued an upbeat revenue forecast. | | | | Nordstrom (JWN) will resume paying quarterly dividends, two years after they were halted by the department store operator. The resumed dividend will be 19 cents per share, payable on April 13 to shareholders of record as of March 28. | | | | Berkshire Hathaway (BRKb) added to its stake in Occidental Petroleum (OXY), with an SEC filing indicating the purchase of 18.1 million more shares. That brings Berkshire's holdings in the energy producer to 136.4 million shares, or about 14.6%. | | | | Box (BOX) is forecasting annual revenue growth of as much as 17% by 2025. The content management software provider had provided upbeat revenue guidance for the current year earlier this month. | | | | Guess (GES) reported adjusted quarterly earnings of $1.14 per share, one cent below estimates, while the apparel maker's revenue also fell short of Street forecasts. However, profit margins were much better than anticipated, and the stock gained in premarket trading. | |  | | |
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