oracle sales disappoint

Investors keep eye on economy

Mar 27: 6:36am

Futures point to mixed open as investors await reading on fourth-quarter economic growth; Oracle sales disappoint.

U.S. stock futures pointed to a mixed open at the start of trading Thursday as investors awaited a reading on economic growth.

About three hours before the start of trading, S&P futures were pointing to a flat open for the broader market. Nasdaq futures, pressured by disappointing quarterly sales from Oracle, suggested a negative open for tech stocks.

Concerns about the weakening economy, along with a surge in commodities prices, sent U.S. stocks lower Wednesday.

Investors will get more economic data in the form of a final reading on fourth-quarter gross domestic product, the broadest measure of the nation's economic growth.

The Labor Department will also release its weekly initial claims report. Both reports are due at 8:30 a.m. ET.

Companies in the news include Clear Channel (CCU, Fortune 500), which sued the banks involved in its sale to private-equity firms for pulling out from their financing agreements.

Oracle (ORCL, Fortune 500) reported a jump in profit late Wednesday, but the software firm's sales fell short of Wall Street's estimates.

Lennar Corp. (LEN, Fortune 500), one of the nation's largest home builders reported a 56 cent-per-share loss - its fourth loss in a row, but came in ahead of expectations.

In global trade, shares in Japan finished lower. European markets gained in early trading.