U.S. stock index futures are edging higher as investors take in several economic reports.
Mortgage applications rose last week. The Mortgage Bankers Association’s purchase index rose 5.5%, while the refinance index rose 6.0%. The 30-year mortgage rate held steady at 4.28%.
Initial jobless claims fell more-than-expected in the previous week. Initial claims fell 24,000 to 435,000, much lower than the 450,000 that was generally expected and down from 459,000 in the previous week. Continuing claims also dropped by 86,000 to 4.301 million.
The trade deficit narrowed in September, as a weaker dollar helped exports grow for a third consecutive month. Separately, import prices increased 0.9% in October after a 0.3% decline in September. The weekly crude oil inventory report and the October Treasury budget will be released later today.
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