Russell 2000 futures fall
The Russell 2000 (NYSE:IWM) futures are down and the small-cap index will open lower on news of a rise in weekly jobless claims.
Jobless claims for the week ended March 29 increased 38,000 to 407,000, from an upwardly revised 369,000 the preceding week. The new level is the highest reading in more than two years.
The Russell 2000 closed near opening levels, up slightly to 712.27, a gain of 1.62, or 0.23%. Look for support Thursday at 704, 700 and 695. Meanwhile, resistance comes in at 717, with the big test up at 725.
The Institute for Supply Management Non-Manufacturing survey this morning at 10:00 a.m. ET could spark a little volatility into the morning action, but most traders are already looking ahead to Friday’s big employment data, which could lead to uneven position-squaring type of action Thursday.
Here are the biggest percentage gainers and losers in pre-market trading among companies with a market cap between $100 million and $750 million:
Biggest percentage gainers:
• AmCOMP Inc. (Nasdaq:AMCP), up 20%.
• AngioDynamics Inc. (Nasdaq:ANGO), up 13% on news it swung to a third-quarter profit.
• Globecomm Systems, Inc. (Nasdaq:GCOM), up 11%.
Biggest percentage losers:
• X-Rite Inc. (Nasdaq:XRIT), down 38%.
• Sequenom Inc. (Nasdaq:SQNM), down 17% on news of a lowered 2008 revenue forecast.
• Sangamo BioSciences, Inc. (Nasdaq:SGMO), down 10%.
Kevin Pendley contributed to this report.
