Futures Remain Little Changed After Jobless Claims Data

Stocks may continue to experience choppy trading on Thursday after ending yesterday’s lackluster session slightly higher. The major index futures are currently pointing to a roughly flat open for the markets, with the S&P 500 futures up by less than a tenth of a percent.

The futures remained little changed even after the Labor Department released a report showing first-time claims for U.S. unemployment benefits rose by more than expected in the week ended December 23rd.

The report said initial jobless claims climbed to 218,000, an increase of 12,000 from the previous week’s revised level of 206,000.

Economists had expected jobless claims to inch up to 210,000 from the 205,000 originally reported for the previous week.

While the data may add to optimism about the outlook for interest rates, traders may remain reluctant to make significant moves going into the end of the year.

Trading activity may pick back up next week, as the Labor Department is scheduled to release its more closely watched monthly jobs report next Friday.

Reports on manufacturing and service sector activity may also attract attention along with the minutes of the latest Federal Reserve meeting.

Not long after the start of trading, the National Association of Realtors is scheduled to release its report on pending home sales in the month of November. Pending home sales are expected to jump by 1.0 percent in November after slumping by 1.5 percent in October.

Stocks showed a lack of direction throughout the trading session on Wednesday, with the major averages spending the day bouncing back and forth across the unchanged line.

Despite the choppy trading, the Dow reached a new record closing high, and the Nasdaq and the S&P 500 ended the day at their best closing levels in almost two years.

The major averages eventually finished the day modestly higher. While the Dow rose 111.19 points or 0.3 percent to 37,656.52, the Nasdaq edged up 24.60 points or 0.2 percent to 15,099.18 and the S&P 500 inched up 6.83…