US STOCKS-Futures edge higher ahead of weekly jobless claims report

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* Futures up: Dow 0.28%, S&P 0.35%, Nasdaq 0.52%

By Medha Singh and Devik Jain
Feb 11 (Reuters) - U.S. stock index futures gained on
Thursday, just shy of new all-time highs as investors looked to
data that is expected to show a fourth consecutive decline in
weekly jobless claims.
The number of Americans filing new applications for
unemployment benefits dipped to 757,000 last week, according to
economists polled by Reuters, but it would still remain elevated
as long-term unemployment is likely becoming entrenched.
Wall Street's main indexes had hit record highs recently on
prospects of a $1.9 trillion coronavirus relief package to
jumpstart the economy with market participants pivoting to
economy-linked energy and bank stocks from tech-related names.
Fourth-quarter earnings have also largely topped analysts'
expectations, quelling fears of lofty valuations.
Pictet Group's asset management arm expects the S&P 500 to
rise 10% from its current levels with improving economic growth
and easy monetary policy helping to extend its rally.

Federal Reserve Chairman Jerome Powell reassured investors
on Wednesday that interest rates will remain low for some time
to spur the economy and jobs growth, but provided no new
insights on monetary policy. At 6:28 a.m. ET, Dow E-minis 1YMcv1 were up 89 points, or
0.28%, S&P 500 E-minis EScv1 were up 13.5 points, or 0.35%.
Nasdaq 100 E-minis NQcv1 were up 70.5 points, or 0.52%.
Pinterest Inc PINS.N rose 7.8% after a report said
Microsoft Corp MSFT.O approached the image-sharing company in
recent months about a potential buyout. The negotiations were,
however, currently not active, according to the report.
PepsiCo Inc PEP.O rose 0.6% in light volumes after the
snack and beverage giant topped analyst estimates for
fourth-quarter revenue and said it expects organic revenue to
grow in 2021 as economies reopen and COVID-19 vaccinations roll
out. Casino operator MGM Resorts MGM.N dropped about 4% after
posting a bigger-than-expected loss, hurt by COVID-19 travel
restrictions but signaled a pickup in demand later this year.