Stocks- U.S. Futures Rise Ahead of Economic Data, Earnings

  • Stock Market News
Stocks-  U.S. Futures Rise Ahead of Economic Data, Earnings
Credit: © Reuters. – U.S. Futures inched up on Friday as the markets were set to end the week on a strong note.

The S&P 500 futures rose four points or 0.15% to 2,738.0 as of 6:45 AM ET (11:45 GMT) while Dow futures increased 18 points or 0.07% to 25,252.0. Meanwhile tech heavy Nasdaq 100 futures was up 14 points or 0.22% to 6,830.75.

Investors appear to have shrugged off raising inflation concerns, which rattled markets last week. Wall Street ended Thursday on a five-day winning streak, with the Dow closing up more than 300 points.

Anheuser-Busch Inbev SA (NYSE: BUD ) was among the top gainers in pre-market trading, rising 1.69% while Teva Pharma Industries Ltd ADR (NYSE: TEVA ) jumped 1.08% and Novavax Inc (NASDAQ: NVAX ) increased 1.85%. Facebook (NASDAQ: FB ) inched up 0.24% while telecommunications firm Nokia (HE: NOKIA ) Corp ADR (NYSE: NOK ) gained 0.87%.

Elsewhere online retailer and blockchain developer Overstockcom Inc (NASDAQ: OSTK ) was down 0.89% after surging 14% on Thursday after George Soros’ hedge fund bought shares of the firm, making it the third largest shareholder. Meanwhile mining company Rio Tinto ADR (NYSE: RIO ) rose 1.24% and ArcelorMittal SA ADR (NYSE: MT ) inched down 0.06%.

A flurry of economic data is expected on Friday. Housing starts , building permits , and import prices are all expected to be released at 8:30 AM ET (13:30 GMT). The Michigan consumer sentiment is scheduled for 10:00 AM ET (15:00 GMT).

Investors will also be looking to corporate earnings on Friday, including Coca-Cola Company (NYSE: KO ), Kraft Heinz Co (NASDAQ: KHC ), Deere & Company (NYSE: DE ) and Campbell Soup Company (NYSE: CPB ).

In Europe stocks were up. Germany’s DAX rose 79 points or 0.64% while in France the CAC 40 increased 46 points or 0.89% and in London, the FTSE 100 was up 47 points or 0.66%. Meanwhile the pan-European Euro Stoxx 50 gained 34 points or 1.01% while Spain’s IBEX 35 surged 129 points or 1.24%.

In commodities, gold futures rose 0.41% to $1,360.90 a troy ounce while crude oil futures were up 0.21% to $61.47 a barrel. The U.S. dollar index , which measures the greenback against a basket of six major currencies, inched up 0.15% to 88.60.

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