* Dow, S&P come off records after five days of gains
* Jobless claims unexpectedly fall in latest week
* Groupon soars in premarket on revenue growth
* Futures down: Dow 6 pts, S&P 2.6 pts, Nasdaq 6.25 pts
By Ryan Vlastelica
NEW YORK, May 9 (Reuters) - U.S. stock index futures pointed
to a slightly lower open on Thursday despite
stronger-than-expected data on the labor market, with Wall
Street coming off a sustained rally that took the S&P 500 to
record closing highs for five straight sessions.
Jobless claims unexpectedly fell in the latest week,
dropping by 1,000 to 323,000, their lowest in more than five
years. Analysts had expected claims to jump to 335,000.
The data added to a positive tone set by Friday's payroll
report, which was much stronger than expected and suggested that
fears of slowing growth may be overdone. The S&P 500 has risen
every session since then, adding 3.2 percent over the period,
while the Dow has also set records.
The claims data "is more fuel to send shares higher," said
Todd Schoenberger, managing partner at LandColt Capital in New
"While we may get a pullback at these levels, that would
make for an excellent entry point for investors. There are no
major headwinds out there right now, and stocks should continue
their upward pattern."
The market's uptrend has been boosted by strong corporate
earnings and an accommodative monetary environment from the
Federal Reserve, which analysts say makes stocks cheaper than
other asset classes on a valuation basis. Investors have used
any market declines in 2013 as a buying opportunity.
S&P 500 futures dipped 2.6 points and were below fair
value, a formula that evaluates pricing by taking into account
interest rates, dividends and time to expiration on the
contract. Dow Jones industrial average futures fell 6
points and Nasdaq 100 futures fell 6.25 points.
The S&P 500 has climbed 14.5 percent so far this year, while
the Dow has advanced 15.3 percent and the Nasdaq has gained 13
percent. Still, the market remains below overbought territory,
with the relative strength index on the S&P slightly below 70.
While moves have been slight this week - the S&P rose just
0.5 percent on its strongest day - that the three major U.S.
stock indexes have ended sessions higher than where they began
in an indication that positive momentum will continue. Trading
volumes have been below average, however, which could indicate a
lack of conviction.
Shares of Barnes & Noble Inc soared 26 percent to
$22.40 in premarket trading after web publication Tech Crunch
reported that Microsoft Corp was considering an offer
to acquire all of Nook Media's digital assets for $1 billion.
News Corp reported earnings late Wednesday that
beat expectations while revenue rose 14 percent. Rupert
Murdoch's media company also said it was on track to split off
its slow-growing publishing business by the end of June. Shares
rose 3.7 percent to $33.05 in premarket trading.
Groupon Inc posted revenue growth of 7.5 percent in
the first quarter, more than analysts had expected. Shares
jumped 12 percent to $6.27 in premarket trading, though they are
down more than 8 percent this month.
With about 440 S&P 500 components having reported, earnings
have largely been better than expected this quarter, with the
majority of companies surpassing estimates. Still, a majority of
companies have missed revenue expectations.