Stock futures edge higher on jobs data, blue-chip earnings

|By:, SA News Editor

Stock futures erase overnight losses and now suggest a higher open, after earnings from Goldman Sachs and Morgan Stanley beat expectations while jobless claims ticked up by less than expected: S&P and Dow +0.1%, Nasdaq +0.3%.

GE and Pepsi each +2% premarket after releasing Q1 results, but IBM -4.5% after reporting an eighth straight quarter of revenue declines and missing analyst expectations, and Google -1.3% after reporting a disappointing quarter.

European markets are slightly lower, while Asian markets ended mixed; the Nikkei was little changed after a 3% run-up in the previous session.

The jobless claims count pressured Treasurys but levels have stabilized; the 10-year yield is higher by one basis point at 2.65%.

Still ahead: Philly Fed, EIA natural gas inventory.