Ahead of the U.S. Market Open

S&P futures fair value: -3.30

Nasdaq futures value: -8.30.

U.S. futures continue to be weak on the latest weekly jobless claims report. Initial jobless claims for the week ending on May 12 came in at 370,000. Slightly higher than the 365,000 that analyst were expecting. Looking continuing claims traders are faced with an increase of roughly 3.27 million from 3.25 million