US pre-open: Bond market, Tech earnings in focus

(Sharecast News) - The government bond market was also still in focus as investors continued to digest rating agency Fitch's decision the day before to cut the country's debt rating. Stephen Innes at SPI Management noted that Fitch's move, coming as it did after the Bank of Japan's decision to step away form its policy of Yield Curve Control, meant that "an increase in Treasury issuance would need to be compensated by higher interest rates across the curve which is not a happy thought for long duration assets."

As well, the importance of non-farm payroll figures due out on Friday had grown "exponentially" as hiring in the U.S. still appeared to be continuing at a "whirlwind" pace, while monetary policy remained the dominant yield driver, Innes added.

As of 1116 BST, Dow Jones mini futures were dipping by 45.0 points to 35,358, alongside a 7.5 point dip for those on the S&P 500 to 4,529.75.

Nasdaq-100 futures meanwhile were off by 38 points at 15,435.0.

Thursday's corporate calendar was again replete with important earnings announcements.

Key among them would be those from Amazon and Apple which were due out after the close of trading in New York.

Other companies that were due to update their shareholders included Amgen, Cigna, Conoco Philips, Cummins, Gilead Sciences, Spirit Airlines.

At 1330 BST, the Department of Labor was to publish weekly unemployment claims figures.

The Institute for Supply Management would follow at 1500 BST with its services sector Purchasing Managers' Index covering the month of July set to follow at 1500 BST.