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US pre-open: Stocks seen slightly higher

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Date: Thursday 08 May 2008

LONDON (ShareCast) - US stocks are seen posting slight gains as investors contemplate sales figures from big retailers.

Retailer Wal-Mart saw same-store sales increase 3.2% in April while discount retailer Costco saw a solid 8% sales gain, which beat forecast of a 6.1% increase.

Across the markets, the Dow Jones is expected to rise 25 points to 12,861 with the Nasdaq seen increasing 5 points to 1966. The S&P 500 is due to rise 4 points.

Japanese automaker Toyota said its profit in January-to-March fell 28% due to the stronger yen and weak sales in the US.

On the economic front, the Labor Department will be releasing its weekly report on jobless claims.