(By Salman - iStockAnalyst Writer)US stock futures were relatively flat on Wednesday, the last trading session of 2008.
At 8:32 am ET, Standard & Poor's 500 Index futures expiring in March advanced 2.60 points to 890.80. Dow Jones Industrial Average futures increased 14 points to 8654. Nasdaq Composite Index futures fell 3.25 points to 1202.75.
A release by Department of Labor on Wednesday showed number of Americans filing first- time claims for unemployment benefits dropped by 94,000 to 492,00 in the week ending Dec. 27. Economists had forecast jobless claims to drop to 575,000. The four-week average of seasonally adjusted initial jobless claims, a less volatile gauge, fell 5,750 to 552,250. Continuing claims for the week ending Dec. 20 jumped 140,000 to 4.51 million, a 26 year high.
Dell Inc. (NYSE: DELL) , the world's No. second largest PC maker announced on Wednesday that Mike Cannon, president of global operations, will retire effective Jan. 31, and Mark Jarvis, chief marketing officer, will leave the company this fiscal quarter.
Swiss banking giant UBS AG (NYSE: UBS) announced on Wednesday that it has sold 3.4 billion Bank of China Ltd. (3988.HK) shares in a placement to institutional investors.
Credit Suisse said on Wednesday that it has sold part of its Global Investors business to Aberdeen Asset Management Plc of UK for 250 million pounds ($361 million) in stock.
According to reports, privately held chemical firm LyondellBasell Industries AF is contemplating bankruptcy.
Meanwhile, troubled insurer American International Group Inc. (NYSE: AIG) is seeking Fed's permission to modify certain terms of its $60 billion government loan.
European markets edged higher in afternoon trade. At 13:14 pm London time, the U.K. FTSE gained 41.49 points or 0.94% to 4,43.17. The German DAX and French CAC added 2.24% and 0.44% respectively.
Asian stocks settled mixed. Hong Kong's Hang Seng Index rose 151.98 points or 1.07% to 14,387.48. Singapore's Strait Times fell 9.09 points or 0.51% to 1,761.56.
NYMEX Crude Oil for March delivery declined $2.09, or 5.4%, to $36.94 a barrel
Disclosure: Author does not own any of the stocks discussed here.
