Stock futures up ahead of jobs, retail sales data

NEW YORK - U.S. stock futures are pointing to a higher opening Thursday as investors await reports on two of the economy's biggest problem areas: jobs and consumer spending.

Overseas markets were mixed, while Treasury prices fell.

The rise in stock futures comes after four days of losses in the stock market, driven by concerns that the economy is not healing fast enough, and that a six-month run-up in stocks had gone too far.

Reports on housing and manufacturing have shown improvement, but unemployment, and the resulting clampdown on consumer spending, has investors worried.

LONDON - Gold prices held near $955 (U.S.) an ounce in Europe on Wednesday, supported by a dip in the dollar index ahead of key U.S. economic data due later, which is boosting interest in the precious metal as an alternative asset.

Oil prices inched higher after Tuesday's hefty 3 per cent slide, following industry data that showed a sharp fall in U.S. crude stocks. Gold prices often track moves in crude oil, as the metal can be bought as a hedge against inflation.

Silver, which is widely used in industrial processes such as electronics manufacturing, is sensitive to moves in the industrial metals.



Elsewhere platinum was at $1,208 an ounce against $1,224.50, while palladium was at $283 against $287, both pressured by profit taking and a dearth of fresh news on South African strikes.

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