Russell 2000 futures slightly down
The Russell 2000 (NYSE: IWM) futures have edged down and the small-cap index will most likely open with a small decline.
In economic news, the U.S. Labor Department announced this morning that jobless claims for the week ended March 15 increased 22,000 to 378,000.
The Russell 2000 stumbled late Wednesday, finishing down 17.81, or 2.61%, at 664.13, unable to sustain the updraft off Tuesday’s largest one-day gain of the year. In today’s action, support is at 660, then at 654, and critical support is at 650. With the U.S. markets closed Friday for the Good Friday holiday, a weekly close above 650 will be critical for the chart structure, and to keep investors uplifted by the recovery off the lows.
The market could see mild volatility into the opening Thursday. The bigger volatility risk comes at 10:00 a.m. ET with the release of Leading Indicators and the Philly Fed Survey.
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:
• Oritani Financial Corp. (ORIT), up 28% on news that it will not merge with Greater Community Bancorp (GFLS).
• The Children’s Place Retail Stores, Inc. (PLCE), up 9% on news of a fourth-quarter loss.
• 3SBio Inc. (SSRX), up 7% on news it will buy back up to $20 million of its outstanding American Depositary Shares.
Biggest percentage losers:
• Logility Inc. (LGTY), down 20%.
• MedAssets Inc. (MDAS), down 12% on news of a wider fourth-quarter loss that nevertheless beat Wall Street’s projections.
• DRDGOLD Ltd. (QDEL), down 5%.
Kevin Pendley contributed to this report.
