Futures are going nowhere

Stock futures are slightly higher ahead of the opening bell, following two strong days for the market.

Near 8:48 a.m. ET, Dow futures were up 32 points (0.18%), S&P 500 futures were up 2 points (0.12%) and Nasdaq futures were up 5 points (0.13%.)

Crude oil is back above $50 per barrel.

Brent crude, the international benchmark, and West Texas Intermediate crude futures in New York pushed above the threshold for the first time in seven months amid ongoing supply disruptions in Nigeria and Canada.

In economic data, initial jobless claims fell 10,000 to 268,000 last week — more than expected.

Durable goods orders jumped 3.4% in April, an advance report showed. That was more that the forecast for 0.5%. However, nondefense capital goods excluding aircraft fell 0.8%, more than estimated and the third straight monthly decline.

And so on balance, the data so far has been mixed, showing a strong labour market and slow business spending.

At 10 a.m. ET, pending home sales numbers will be released.

Abercrombie & Fitch shares tanked 11% pre-market after the apparel retailer’s sales missed analysts’ expectations.

Costco was 3% higher after the company reported better-than-expected profits. Its US same-store sales flatlined for the first time in six years.

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