US STOCKS-Futures edge up after latest record; data on tap
23/12/2014 13:15
* GDP, durable goods data on tap
* Gilead bounces in premarket after selloff
* Futures up: Dow 40 pts, S&P 3.75 pts, Nasdaq 9 pts
(Adds data on premarket actives)
By Chuck Mikolajczak
NEW YORK, Dec 23 (Reuters) - U.S. stock index futures edged
higher on Tuesday, a day after the Dow and S&P 500 closed at
fresh records, and ahead of a raft of economic data.
* Major Wall Street indexes have risen for four straight
sessions, pushing the benchmark S&P index .SPX to its 50th
record high of the year. The S&P has risen 5.4 percent over that
period, its best 4-day run since July 2010. The rally comes on
the heels of a selloff, sparked by a slump in oil prices that
saw the index drop nearly 5 percent from its prior record high
set on Dec. 5.
* Investors will eye a slew of economic data, including the
final reading for third-quarter gross domestic product (GDP) and
durable goods at 8:30 a.m. (1330 GMT). Economists expect the GDP
to show the U.S. economy grew at a 4.3 percent annual pace, up
from the prior estimate of 3.9 percent. Durable goods orders are
forecast to show a 2.9 percent increase.
* The Thomson Reuters/University of Michigan's final
December reading on consumer sentiment is scheduled for release
at 9:55 a.m (1455 GMT). New home sales data for November as well
as the November reading for personal income and spending are
expected at 10 a.m. (1500 GMT).
* Trading volume is expected to be light this week due to
the Christmas holiday, which could increase volatility. U.S.
equity markets will open for an abbreviated session Wednesday
and be closed on Thursday.
* Gilead Sciences Inc GILD.O was the most actively traded
issue on the Nasdaq premarket, up 0.8 percent to $93.65. On
Monday, the drugmaker slumped more than 14 percent, its biggest
drop in nearly 14 years, after Express Scripts Holding Co
ESRX.O said it lined up a cheaper price for AbbVie Inc's
ABBV.N newly approved hepatitis C treatment and, in most
cases, will no longer cover Gilead's rival treatments.
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* China Finance Online Co Ltd JRJC.O jumped 20.9 percent
to $6.43 before the opening bell after the web-based financial
services company posted quarterly results. Volume of over 87,000
shares represented about 6 percent of its 10-day daily average.
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Futures snapshot at 8:02:
* S&P 500 e-minis ESc1 were up 3.75 points, or 0.18
percent, with 52,186 contracts changing hands.
* Nasdaq 100 e-minis NQc1 were up 9 points, or 0.21
percent, on volume of 7,310 contracts.
* Dow e-minis 1YMc1 were up 40 points, or 0.22 percent,
with 7,551 contracts changing hands.
(Editing by Chizu Nomiyama and Jeffrey Benkoe)
((charles.mikolajczak@thomsonreuters.com; @ChuckMik; +1 646 223
5234; Reuters Messaging:
charles.mikolajczak.thomsonreuters.com@reuters.net))