Stock futures push higher ahead of economic data
NEW YORK — U.S. stock futures are pushing higher ahead of data on the labor and housing markets, as well as more earnings reports.
The slight pop in futures Thursday comes after gains in Asia and amid relatively flat markets in Europe.
Investors will be looking to the Labor Department’s weekly report on jobless claims for more clues on the strength of the economy. Investors will also get a report on existing home sales.
Meanwhile, earnings reports from such companies as AT&T Inc., United Parcel Service Inc., Kimberly-Clark Corp. and McDonald’s Corp. are expected. Microsoft Corp. and American Express Co. are among those that report earnings after the market closes.
Ahead of the market’s open, Dow Jones industrial average futures rose 20, or 0.2 percent, to 8,853. Standard & Poor’s 500 index futures added 2, or 0.2 percent, to 951.40, while Nasdaq 100 index futures rose 3, or 0.2 percent, to 1,559.50.
Overseas, Japan’s Nikkei stock average rose 0.7 percent, while Hong Kong’s Hang Seng index surged 3 percent. The Hang Seng now stands at its highest level since September 10, outpacing the recovery in U.S. markets. Earlier this week, the Dow Jones industrials hit their highest point since January, while the benchmark Standard & Poor’s 500 index reached its highest level since November.
In late morning trading, Britain’s FTSE 100 was down 0.2 percent, Germany’s DAX index fell 0.2 percent, and France’s CAC-40 was down 0.4 percent.
Investors have been hesitant to make big moves the past two days, questioning the timing and strength of the economy’s recovery amid a mixed batch of earnings reports. Many companies continue to report profits that are better than expected, and some are even giving improved outlooks on the remainder of the year.
But the bar had been set so low to begin with, and analysts warn that as earnings season progresses, the expectations tend to increase. Meanwhile, sales at many companies are still sagging, a clear sign that consumers and businesses would rather save than spend.
While unwilling to give up entirely on a spring rally that sent the major indexes up as high as 40 percent, investors want more clarity on the state of the economy before taking the market much higher.
Bond prices inched higher in early trading. The yield on the benchmark 10-year Treasury note, which moves opposite its price, dipped to 3.54 percent from 3.55 percent late Wednesday.
The dollar fell against other major currencies, while gold prices rose.
Oil prices fell 17 cents to $65.23 a barrel in electronic trading on the New York Mercantile Exchange.
Related News
US stock futures little changed as investors await data on jobs, housingSeptember 24th, 2009 Stock futures steady ahead of jobs, housing dataNEW YORK — Stock futures are little changed as investors wait for more clues on how the economy is faring. The quiet trading Thursday follows declines in markets overseas that came after the Federal Reserve left interest rates unchanged and said the pace of economic activity has improved.
Stock futures point to open as investors' outlook for economic recovery wanesSeptember 18th, 2009 Stocks index futures little changedStock futures are pointing to a slightly higher open Friday, as investors hope to resume a recent rally after a slight pullback in the previous session. Major indexes had risen in the first three days of the week on signs the economy is recovering, but gave some ground on Thursday.
Stock futures point toward higher opening as investors wait to hear from Fed chairmanAugust 21st, 2009 Stock futures point to modestly higher openingNEW YORK — Stock futures pointed to a modestly higher open as investors try to shake a two-day losing streak. Overseas markets mostly fell.
Asian stock markets mostly higher in cautious trade, but Shanghai shares fall modestlyAugust 19th, 2009 Asia stock markets mostly higher in cautious tradeHONG KONG — Most Asian stock markets drifted higher Wednesday, but many investors held back for clues to whether the recent rally would resume or continue to peter out. Several major markets — including China, Japan and Hong Kong — fluctuated in thin, lethargic trade that bucked an overnight rebound on Wall Street.
US stock futures mixed in narrow range as investors await reports on jobs, retail salesAugust 6th, 2009 Futures mixed ahead of jobs, retail sales reportsNEW YORK — U.S. stock futures are mixed in a narrow range as investors refrain from making big bets ahead of reports on retail sales and the labor market.
US stocks rising sharply as overseas markets observe solid gainsAugust 3rd, 2009 NEW YORK — U.S. stock futures are sharply higher, buoyed by broad gains in overseas markets, as solid reports from European banks give investors a burst of optimism.
Wall street sees a momentum, expectant after overseas market gainsJuly 24th, 2009 NEW YORK — The momentum in the stock market is growing, with U.S. stock futures pointing to a higher opening following gains in overseas markets.
US stock futures point to higher open after upbeat earnings, mixed report on labor marketJuly 23rd, 2009 Stock futures push higher amid earnings, jobs dataNEW YORK — U.S. stock futures are rising Thursday amid news of dealmaking and a barrage of upbeat earnings reports.
Stock futures rise as earnings from Goldman Sachs, Intel boost economic recovery hopesJuly 15th, 2009 Stock futures rise on earnings reportsNEW YORK — Investors who have been looking for signs the economy is on the mend are pushing stock futures higher in the wake of better-than-expected earnings reports from Intel and Goldman Sachs. The upward move ahead of Wednesday's market opening in New York extends gains in overseas markets.
Stocks futures point to lower opening as investors prepare for crush of earningsJuly 13th, 2009 Stocks futures lower ahead of busy earnings weekNEW YORK — Stock futures are lower as investors brace for a crush of earnings reports this week, including key readings from the banking sector. Overseas, Asian markets tumbled Monfay, but European stocks have posted only modest losses.
Stocks point higher ahead of data on home construction, inflation, industrial productionJune 16th, 2009 Stock futures point higher ahead of economic dataNEW YORK — Investors remain cautious as they await reports on housing and inflation a day after a stock market slide. Stock futures are moderately higher Tuesday after major market indexes fell sharply Monday.
Stocks signal flat open ahead of data on home construction, inflation, industrial productionJune 16th, 2009 Stock futures trade in tight range ahead of dataNEW YORK — Investors remain cautious as they await reports on housing and inflation a day after a stock market slide. Stock futures are showing only modest moves after major market indexes fell sharply Monday.
Stock futures rise sharply following sharp overseas gains, rising oil pricesJune 10th, 2009 Stock futures point toward higher openNEW YORK — Stock index futures are rising, pointing to a higher opening on Wall Street following gains in overseas markets and rising oil prices. Major markets in Asia and Europe are up about 2 percent as oil prices touched a new high for the year, helping to push resource producers' stock prices higher.
Wall Street heads for higher open as investors await jobs data, retail sales reportsJune 4th, 2009 US stock futures point higher ahead of jobs dataNEW YORK — Stock futures are indicating a higher opening for the U.S. markets as investors await sales reports from retailers and data on the labor market.
Stock futures edge higher after big gains, investors await economic data, earnings reportsMay 5th, 2009 Wall Street appears ready to extend big gainsNEW YORK — U.S. stock futures are edging higher as investors await a reading on the services sector and a bevy of earnings reports for further confirmation that the economy is improving.
Loading ...