Nov 05, 2009 (SmarTrend(R) Market Commentary via COMTEX News Network) -- Last updated November 5, 2009: 7:45 AM ET --- U.S. stock futures are trading higher Thursday ahead of data on consumer spending and jobless claims. October same-store sales are expected to show some recovery in spending. The Labor Department is expected to report that new unemployment claims dropped by 7,000 to a seasonally adjusted 523,000 last week. The Federal Reserve said on Wednesday that it would keep interest rates low for "an extended period." The statement also indicated that housing activity has picked up in recent months and that consumer spending appears to be slowly growing. In corporate news, Cisco Systems (NASDAQ:CSCO) shares rose 2.9% in premarket trading after reporting better-than-expected fiscal Q1 profit. Research In Motion (NASDAQ:RIMM) shares rose 1.7% after the company said it would repurchase up to $1.2 billion of its own stock. Toyota Motor Corp. (NYSE:TM) lifted its sales outlook for the fiscal year and cut its loss estimate after reporting a $242 million fiscal Q2 profit. The Dow Jones Industrial Average futures are trading 11.00 points higher, the S&P500 futures are up 1.50 points, and the Nasdaq Composite futures are up 0.75 points.
Write to Chip Brian at cbrian@tradethetrend.com
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