August 30, 2012-Markets Cautious on Euro Stimulus Decision

Wall Street remains cautious on Thursday after positive data rescued it yesterday, helping the major averages close to slightly higher. A couple of market moving domestic economic reports on jobless claims and personal spending could come to the aid of the markets if these beat expectations. Chain store sales to be released by the nation's retailers may also impact sentiment. With so much expectations built around Federal Reserve Chairman Ben Bernanke's Jackson Hole address on Friday, the markets would require more than data support to remain afloat. The Dow futures are declining 38 points, the S&P 500 futures are moving down 4.70 points and the Nasdaq 100 futures are receding 9.25 points. U.S. stocks saw some upside on Wednesday, thanks to some forecast beating domestic economic data that allayed growth concerns to some extent. On the economic front, the Labor Department released its customary jobless claims report for the week ended August 25th with claims flat at 374,000. Economists expected claims to decline to 370,000 from 372,000 in the previous week.