US STOCKS-Futures little changed after latest record; data on tap
23/12/2014 12:38
* GDP, durable goods data on tap
* Gilead bounces in premarket after selloff
* Futures up: Dow 28 pts, S&P 2.25 pts, Nasdaq 6.75 pts
By Chuck Mikolajczak
NEW YORK, Dec 23 (Reuters) - U.S. stock index futures were
little changed on Tuesday, 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 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 sharp rally
comes on the heels of a selloff 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 on Tuesday,
including the final reading for third-quarter gross domestic
product and durable goods at 8:30 a.m. (1330 GMT). Expectations
call for 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 expected 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 GILD.O rose 1.2 percent in premarket
trade. The drugmaker slumped more than 14 percent in the prior
session, its biggest drop in nearly 14 years, after Express
Scripts 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.
ID:nL1N0U621J
* China Finance JRJC.O jumped 15.8 percent to $6.16 before
the opening bell after the web-based financial services company
posted quarterly results. ID:nL3N0U72PT
* In Europe, a pullback on the Greek stock market on fears
of early elections kept a lid on gains in the region's equities.
Trading was light in Asia with Japan on holiday and markets
moved only marginally. MSCI's broadest index of Asia-Pacific
shares outside Japan .MIAPJ0000PUS eased 0.3 percent.
.EU ID:nL3N0U61KF
Futures snapshot at 7:23 a.m. EST (1223 GMT):
* S&P 500 e-minis ESc1 were up 2.25 points, or 0.11
percent, with 44,713 contracts changing hands.
* Nasdaq 100 e-minis NQc1 were up 6.75 points, or 0.16
percent, in volume of 6,150 contracts.
* Dow e-minis 1YMc1 were up 28 points, or 0.16 percent,
with 6,284 contracts changing hands.
(Reporting by Chuck Mikolajczak; Editing by Chizu Nomiyama)
((charles.mikolajczak@thomsonreuters.com; @ChuckMik; +1 646 223
5234; Reuters Messaging:
charles.mikolajczak.thomsonreuters.com@reuters.net))