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Walt Disney ( DIS ) up after beating Q4 earnings forecast
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Tapestry gains after terminating Capri deal
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JD.com's US-listed shares fall after Q3 revenue miss
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Futures up: Dow 0.19%, S&P 500 0.09%, Nasdaq 0.04%
(Updated at 07:10 a.m. ET/1210 GMT)
By Lisa Pauline Mattackal and Purvi Agarwal
Nov 14 (Reuters) - U.S. stock index futures were little
changed on Thursday as investors awaited a fresh batch of
economic data and Federal Reserve Chair Jerome Powell's comments
later in the day for clues on the outlook for the economy and
monetary policy.
The producer price index (PPI) reading for October and
weekly jobless claims data are expected at 8:30 a.m. ET.
"These numbers (PPI) better reflect corporate pricing power
than the consumer price data, the tone should be consistent with
a December rate cut," said Paul Donovan, chief economist at UBS
Global Wealth Management.
Traders are broadly pricing in an 86% chance of a 25-basis
point interest rate cut at the Fed's December meeting, according
to the CME FedWatch tool.
Bets on a December cut increased after Wednesday's consumer
price index data, which was in line with forecasts.
Powell will provide an update on his economic outlook to
business leaders in Dallas, a day after some Fed policymakers
shifted their attention back to inflation risks as they weighed
when, and how fast and far, to cut interest rates.
Policies under President-elect Donald Trump's administration
are widely expected to add to inflationary pressures.
The Republican Party will control both houses of Congress
when Trump takes office in January, Edison Research projected on
Wednesday, enabling him to push an agenda of slashing taxes and
shrinking the federal government.
Changing inflation expectations are clearly visible in the
bond market, where the U.S. 10-year Treasury yield
has ticked up to its highest since July, which could limit gains
for rate-sensitive equities.
Dow E-minis were up 85 points, or 0.19%, S&P 500
E-minis were up 5.25 points, or 0.09%, and Nasdaq 100
E-minis were up 9.25 points, or 0.04%.
Futures tracking the small-cap Russell 2000 jumped
0.6% after the index closed down nearly 1% on Wednesday.
Shares of cryptocurrency-focused companies rose on Thursday
as bitcoin continued to climb on hopes of favorable
policies under Trump. Coinbase Global ( COIN ) gained 3.8%,
miner MARA Holdings ( MARA ) rose 2.6% and bitcoin buyer
MicroStrategy ( MSTR ) was up 3.4% in premarket trading.
The Dow and the S&P 500 edged higher on
Wednesday, while the Nasdaq lost ground.
Walt Disney ( DIS ) climbed 6.5% after reporting quarterly
earnings that topped Wall Street's estimates.
U.S.-listed shares of JD.com were down 2.1% after the
Chinese e-commerce group missed market estimates for quarterly
revenue.
Cisco ( CSCO ) dipped 3.3% after the computer networking
equipment maker forecast annual revenue broadly in line with
estimates after the bell on Wednesday.
Tapestry gained 7.2% after the Coach parent said it
was terminating its $8.5 billion deal for Michael Kors-owner
Capri Holdings after the deal was blocked by a U.S.
judge. Capri's shares fell 6%.
Remarks from Fed officials Thomas Barkin and John Williams
are expected later in the day.