S&P futures vs fair value: -2.3. Nasdaq futures vs fair value: -4.5. After falling to session lows, futures pare some losses immediately following the release of the weekly initial jobless claims number. Just hitting the wires, new unemployment claims for the week ended April 5 fell to 357,000 from 410,000. Economists expected a reading of 383,000. Separately, the February trade deficit grew to $62.3 billion, compared to the expected deficit of $57.5 billion. Meanwhile, Target (TGT) reported March same-store sales fell 4.4%, compared to consensus that called for a delcine of 2.7%.
News Corp., AOL Pursue Yahoo Deals (WSJ) Microsoft's bid for Yahoo was thrown into utter disarray last night as rumors emerged of both AOL and News Corp. getting into the mix. Yes. News Corp is said to be partnering with Microsoft on a renewed deal, while AOL may announce a merger with Yahoo, as early as next week. This was all of course in the hours after Yahoo and Google unveiled an ad trial designed to show that an independent Yahoo had levers to pull in juicing its revenue. Microsoft did the old antitrust freakout, but suffice to say, all those discussions about how this conclusion is all a matter of "when", not "if" probably should be thrown out the window.
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