ROGUE fishmongers are targeting Edinburgh with a scam which has already cost one man hundreds of pounds. The pair have been going door-to-door in recent days, reportedly using “high pressure” sales techniques. The fish they sell are overpriced and thought to be out of date, sparking health concerns. Trading Standards officers also believe the fish may not be all they seem, as a similar scam last year saw people duped into buying what they thought were monkfish fillets but which...
Stocks On Track For Higher Open
March 16, 2008 on 7:51 pm | In Finance |
Stock futures pointed to a higher open Thursday, following a surprising drop in jobless claims and sprightly retail data.
The Nasdaq rose 9 points vs. fair value, the S&P 500 4 points and the Dow 47 points.
In economic news, new jobless claims unexpectedly fell by 19,000 last week to 318,000, the lowest since the week ended Aug 4, after trending higher in recent weeks. Economists expected 330,000.
And productivity in the second quarter was revised up to a 2.6% annual rate from an initial estimate of 1.8%. Unit labor costs were revised lower to a 1.4% pace from 2.1%, easing inflation pressures.
At 10:00 a.m. ET, the ISM services index for August will be released. Economists expect a dip to 54.5 from July’s 55.8.
The European Central Bank left interest rates unchanged at 4% and injected $57.7 billion into the banking system.
Retailers reported stronger-than-expected same-store sales in August. That’s good news, but only with the day’s economic data, lessens the need for a Fed rate cut.
Wal-Mart () climbed about 3% in pre-market trading. The world’s largest retailer reported a 3.1% rise in August same-store sales, boosted by back-to-school shopping. Analysts expected a 1.5% rise.
Board shop Zumiez () said same-store sales surged 17.4%, also double estimates. But the stock edged lower in pre-open trade.
American Eagle Outfitters () rose about 1% before the open. The teen apparel retailer reported a 9% jump in August same-store sales, beating views.
Group mate Abercrombie & Fitch () also topped estimates.
Meanwhile, Aeropostale () delivered a 1.7% rise in same-store sales, but that was below analyst estimates.
Elsewhere, J. Crew () dropped 7% in the premarket. Late Wednesday, the clothing retailer reported Q2 earnings above views, but its sales were a little shy. The guided full-year profit of $1.42-$1.46 a share vs. views of $1.45.
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