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Market News

European Markets

European markets are called to open flat this morning.

Asian Markets

Most Asian stocks dropped on concern factory output in China may have contracted this month, and as companies from Hynix Semiconductor Inc. to Hyundai Heavy Industries Co. posted lower earnings.

US Markets

U.S. stocks ended little changed Wednesday, as investors moved to the sidelines to survey the latest twists in the debt ceiling drama.

The Dow Jones industrial average fell 16 points, or 0.1%, with United Technologies and Microsoft.

The S&P 500 lost less than 1 point, or 0.1%, and the Nasdaq Composite slipped 12 points, or 0.4%.

Events this week

Thursday – Before the bell, Dow members AT&T and Travelers will report their results. Also reporting on Thursday is Morgan Stanley, who is expected to post a loss of 62 cents a share.

On the economic front, the Labor Department issues its weekly jobless claims data at 8:30 a.m. ET. The Philadelphia Federal Reserve will release its July manufacturing survey at 10 a.m. ET.

Economists surveyed by Briefing.com expect weekly jobless claims rose to 411,000 claims last week compared with the 405,000 claims reported the week before.

Federal Reserve Chairman Ben Bernanke is scheduled to testify in front of the Senate Banking Committee starting at 10 a.m. ET on Thursday. The chairman is speaking on the Dodd-Frank financial regulatory reform law.

After the bell, investors will get earnings results from Intel competitor Advanced Micro Devices as well as software giant Microsoft. Analysts expect to earn 58 cents a share, according to Thomson Reuters.

Friday — Four Dow components report their quarterly results on Friday: Verizon , General Electric, Caterpillar and McDonald’.

Analysts expect that Verizon earned 55 cents a share last quarter, while GE earned 32 cents a share, McDonald’ had a profit of $1.28 per share and Caterpillar earned $1.79 a share.

Other names reporting on Friday include former Dow member Honeywell, imaging company Xerox and oil company Schlumberger .

There’ no scheduled economic data out this day.