U.S. stock futures edged higher Thursday ahead of data that could show a decline in weekly jobless claims.
S&P 500 futures rose 4 points to 1,099.60 and Nasdaq 100 futures rose 5.75 points to 1,798.20. Futures on the Dow Jones Industrial Average rose 25 points.
U.S. stocks rose Wednesday, buoyed by an upgrade for Dow component 3M. The blue-chip index rose 51 points, the Nasdaq Composite added 11 points and the S&P 500 rose 4 points.
The Bank of America has repaid the US government the entire bailout money of USD 45 billion. The Department of the Treasury announced yesterday that it has received full repayment on its Troubled Asset Relief Programme (TARP) investments in Bank of America in the sum of USD 45 billion. With this the federal exchequer has so far received a total of USD 116 billion of its bailout money. Bank of America Corp. (NYSE:BAC, $15.39, -$0.02, -0.13%) rose 0.84 percent to $15.52 on Thursday morning pre-market trading session, while on Wednesday, shares of Bank of America fell 0.13 percent and closed on $15.39, BofA dropped 2.41 percent in the past one month trading.
Global financial services firm Citigroup is in advanced talks with regulators over its plans to raise more than $ 15 billion through an equity offering, a media report says. According to a report in the media reports, Citigroup is planning to raise the funds in an effort to repay $ 20 billion of bailout funds as soon as possible. Citigroup Inc. (NYSE:C, $3.86, -$0.05, -1.28%) jumped 1.55 percent to $3.92 on Thursday morning pre-market trading session, while on Wednesday, Citigroup shares were down 1.28 percent, closed on $3.86.
JPMorgan Chase & Co. has drawn more orders for the largest commercial mortgage bond since mid-2008 than can be filled at proposed prices, suggesting firm demand for new conservative securities in an otherwise sketchy market, according to an offering document, according to Reuters. JPMorgan Chase & Co. (NYSE:JPM, $41.19, -$0.02, -0.05%) rose 0.36 percent to $41.34 on Thursday morning pre-market trading session, while on Wednesday, shares of JPMorgan fell 0.05 percent and closed on $41.19.
Wells Fargo & Co., the bank that gained a portfolio of option adjustable-rate mortgages when it bought Wachovia Corp. last year, cut the principal for delinquent borrowers in some loans by as much as 30 percent. Wells Fargo & Company (NYSE:WFC, $25.96, -$0.07, -0.27%) jumped 0.31 percent to $26.04 on Thursday morning pre-market trading session, while on Wednesday, Wells Fargo shares were down 0.27 percent, closed on $25.96.
Royal Bank of Scotland Group Plc, the U.K. lender 70 percent-owned by the government, may have to dilute its stock to repay preference shareholders that include Pacific Investment Management Co. Royal Bank of Scotland Group plc (NYSE:RBS, $9.97, -$0.01, -0.10%) rose 4.91 percent to $10.46 on Thursday morning pre-market trading session, while on Wednesday, shares of RBS fell 0.10 percent and closed on $9.97.
Global payment-service company Western Union Co. (WU) increased its quarterly dividend by 50% to 6 cents a share and authorized $1 billion in share repurchases. The Western Union Company (NYSE:WU, $18.19, +$0.14, 0.78%) jumped 1.21 percent to $18.41 on Thursday morning pre-market trading session, even on Wednesday, Western Union shares were up 0.78 percent, closed on $18.19.
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