Futures remained higher following the weekly jobless claims number and the trade report. The number of U.S. workers filing new claims for jobless benefits rose more than expected last week. Initial claims for unemployment insurance rose 17,000 last week to a seasonally adjusted 474,000 from 457,000 in the prior week. Claims had previously declined for five straight weeks. The four-week moving average fell to its lowest level in a year.
Separately, the U.S. trade deficit narrowed unexpectedly in October as the weak dollar helped boost exports and demand for oil fell to it lowest level since January 2000. At 10:00 am ET, the Bureau of Labor Statistics will publish projections on job growth by industry. The flow of funds report from the Federal Reserve is due around noon and the Treasury budget is due in the afternoon.
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