U.S. MARKET AVERAGES

U.S. stock futures are indicating a higher start of Thursday trading session. Investors are awaiting economic data, including weekly unemployment statistics, personal income and spending index. The retail sector is seen in the spotlight with companies like Wal-Mart and Costco Wholesale, reporting November sales figures.

The nation's largest retailer Wal-Mart Stores (WMT: chart) reported a 4.3% rise in its November comparable sales, matching an estimate it released last week. Total sales for the month came in at $25.768 billion, up 9.4% from last year. For December, Wal-Mart predicted comparable sales growth between 2% and 4%.

Costco (COS: chart), the largest U.S. warehouse club operator, posted a 6% rise in November sales at its stores open at least a year, missing analyst forecast of a 7.2% increase.

United Retail Group (URGI: chart) reported a 5% growth in same-store sales in November. JoS A. Bank Clothiers (JOSB: chart) posted a 3.8% rise in same-store sales.

Yum! Brands (YUM: chart) confirmed its earnings guidance for fiscal 2005, saying it still expects a profit of $2.64 per share, in line with analysts consensus. Looking ahead to fiscal 2006, the company predicted worldwide system-sales growth of 5%-6%, with a 2%-3% increase in U.S. blended same-store sales.

ECONOMIC NEWS

The number of people filing for first-time unemployment benefits declined in the most recent week and came in below economists' expectation.

The U.S. Department of Labor revealed Thursday that initial jobless claims came in at 320,000 for the week ended on November 26, a decline of 17,000 from the previous week's revised total. Economists had expected a level of around 323,000.

The 4-week moving average for initial claims, which flattens out the week-to-week volatility, fell 1,250 to 322,500. Continuing claims for the week ended November 19, the most recent week for which the government has data, dropped 24,000 to 2.767 million.

INTERNATIONAL MARKET NEWS

Asian-Pacific benchmarks finished mixed. The Nikkei ended the session at a five-year high of 15,130.50, climbing 1.8% on shipping and constructions shares with Advantest and Softbank the biggest contributors to the rise. Across the region, Hong Kong’s Hang Seng gained 0.9%, South Korea’s Kospi jumped 0.7%, while stocks in Australia slid 1.2%.

European markets advanced at mid-day dealings, shrugging off lower close of U.S. markets overnight and receiving strong support from energy stocks and takeover deals ahead of European Central Bank interest rate meeting. The German DAX 30 gained 0.6%, the French CAC 40 rose 0.7%, and London’s FTSE 100 added 0.4%.

OIL, METALS, CURRENCIES

Crude oil prices slipped on higher heating oil stocks, easing supply concerns. Light sweet crude for January delivery declined 23 cents to $57.09 a barrel in electronic trading on the Nymex. London Brent fell 37 cents to $54.68.

European gold declined. In London the precious metal was fixed at $494.40 per troy ounce, down from $494.50. In Zurich gold traded at $494.35, down from $494.85. In Hong Kong gold gained 50 cents to close at $493.75. Silver traded unchanged at $8.13.

The U.S. dollar traded mixed against its major counterparts. The euro was quoted at $1.1781, down from $1.1791. The dollar bought 119.96 yen, up from 119.81. The British pound traded at $1.7311, up from $1.7290.

EARNINGS NEWS

Warner Music Group Corp. (WMG: chart), record-label operator and music publisher, announced that Q4 net loss narrowed to 21 cents a share, against a net loss of $1.27 per share in the year-ago period on 13% higher revenue. If not for special items, the company would have gained 8 cents a share against a loss of $1.01.

Conn''s, Inc. (CONN: chart), consumer electronics retailer, reported that Q3 net profit surged 44.6% to 38 cents a share, from the year-ago period on 30.4% revenue growth and same-store sales up 23.3%.