Premarket movers
U.S. stock futures clung to mild gains, as investors digested the latest reports on jobless claims and housing starts. Read Indications for more on U.S. market action.
Global markets
Asian markets mostly slipped, with the prospect of more monetary-policy tightening from Beijing continuing to weigh on stocks, particularly in Shanghai. Separately, Standard & Poor’s Ratings Services lifted China’s long-term credit rating. See Asia Markets.
In Europe, most bourses were lodged firmly in neutral. A notable decliner in London was BP PLC /quotes/comstock/13*!bp/quotes/nls/bp (BP 44.00, +0.14, +0.32%) , whose shares dropped after the U.S. government said it would file a civil lawsuit against the company for its role in the Gulf of Mexico oil spill. See Europe Markets.
Breaking news
- BP PLC /quotes/comstock/13*!bp/quotes/nls/bp (BP 44.00, +0.14, +0.32%) was the biggest decliner in the U.K.’s FTSE 100 index. Read about the U.S. government’s civil lawsuit against BP.
- Compellent Technologies Inc. /quotes/comstock/13*!cml/quotes/nls/cml (CML 28.13, +0.31, +1.11%) approved a shareholder-rights plan.
- FedEx Corp.’s /quotes/comstock/13*!fdx/quotes/nls/fdx (FDX 91.83, -0.56, -0.61%) second-quarter profit fell 18%. Read more about FedEx’s results.
- Pier 1 Imports Inc.’s /quotes/comstock/13*!pir/quotes/nls/pir (PIR 10.59, +0.21, +2.02%) third-quarter profit dropped 46%.
- Rite Aid Corp.’s /quotes/comstock/13*!rad/quotes/nls/rad (RAD 0.89, -0.02, -2.40%) third-quarter loss narrowed to $79.1 million; the drugstore chain lowered its full-year forecast.
- The number of people filing for state unemployment benefits for the first time fell to its second-lowest level this year, the Labor Department reported. Read more about jobless claims.
- Construction of new U.S. homes remained at a low level in November, while permits for new construction fell, according to government data. Read more about housing starts.
by Kim Hjelmgaard
