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NEW YORK (CNNMoney)
While New Year festivities have come and gone, U.S. stocks surged Wednesday following the passage of a fiscal cliff deal in Washington.
But the prospect of more cliff-edge wrangling over the U.S. budget in the weeks to come could leave some investors nursing a hangover. U.S. stock futures were lower ahead of the opening bell Thursday.
Investors will get a fresh look at the labor market before the open, with the government's weekly report on initial jobless claims and the monthly report on private-sector jobs from payroll processor ADP. The two reports serve as a prelude to the government's closely watched monthly jobs report, due Friday morning.
Before trading, Starbucks (SBUX, Fortune 500) announced it will open its first store in Vietnam.
Fear & Greed Index
European markets retreated slightly in early trading after posting gains of 2% Wednesday, while Asian markets ended higher. Hong Kong's Hang Seng advanced 0.4% while the Australia ASX All Ordinaries index added 0.8%. Markets in Tokyo and Shanghai were closed for an extended New Year's holiday.
First Published: January 3, 2013: 3:51 AM ET
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