Stocks ease back from record highs

Written By limadu on Kamis, 12 September 2013 | 17.42

S&P Futures 120913

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NEW YORK (CNNMoney)

U.S. stock futures edged lower Thursday, pulling back slightly after recent gains pushed major indexes close to record levels. Markets around the world also ticked down.

American traders are looking ahead to the U.S. government's weekly report on initial jobless claims, due out at 8:30 a.m. ET.

In corporate news, firms including yoga-wear producer lululemon (LULU) and grocery chain Kroger (KR, Fortune 500) were set to report quarterly results before the opening bell.

Related: Fear & Greed Index

Investors continue to remain wary about the U.S. Federal Reserve, which could decide to cut back on its quantitative easing program this month. The Fed has previously indicated that it was considering scaling back on this massive, liquidity-boosting program, which has supported a big rally in stock markets around the world.

Meanwhile, Mike van Dulken, the head of research at Accendo Markets in London said investors are still looking for some excuses to buy.

"The appetite for a push higher still lurks especially with the cooling in concerns over Syria," he said.

The threat of U.S.-led military strikes against Syria has created a lot of volatility in global markets, though it's looking increasingly likely that a diplomatic resolution may be found.

Related: Facebook shares finally top $45

U.S. stocks finished mixed Wednesday. The S&P 500 moved slightly higher, while a sharp drop in Apple (AAPL, Fortune 500) shares pushed the tech-heavy Nasdaq into the red.

The Dow Jones Industrial Average added more than 130 points, helped by a big jump from IBM (IBM, Fortune 500), the most heavily weighted stock in the index.

On the downside, shares in Men's Wearhouse (MW) plunged in after-hours trading after the company reported disappointing quarterly earnings. Vera Bradley (VRA) shares also sank after the handbag producer offered weak guidance.

European indexes dipped lower in morning trading.

Asian markets had a mixed day, with stocks in China edging up while Japan's Nikkei posted a small decline. To top of page

First Published: September 12, 2013: 5:29 AM ET


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