Futures higher ahead of housing

2009-12-29 12:32

 

Stocks are looking to extend their gains into a seventh straight

day as investors anticipate positive readings on home prices and consumer

confidence.

Overseas markets are also higher. Other markets, including bonds

and commodities, are little changed.

U.S. stock futures edged higher Tuesday ahead of the Standard &

Poor’s/Case-Shiller October index of home prices and the Conference Board’s

release of its Consumer Confidence Index for December.

Trading has been quiet in recent days, as many investors take

vacation between the Christmas and New Year’s holidays.

But even in light

volume, the market continues to plod higher, adding to the big gains logged over

the previous 10 months, amid improving economic data.

The Standard & Poor’s

500 index has risen 2.3 percent in the past six days to a new high for the

year.

Ahead of the market’s open, Dow Jones industrial average futures

rose 33, or 0.3 percent, to 10,520. Standard & Poor’s 500 index futures rose

4.50, or 0.4 percent, to 1,126.60, while Nasdaq 100 index futures rose 3.50, or

0.2 percent, to 1,878.

The dollar slipped against other major currencies. Oil prices fell

22 cents to $78.55 a barrel in electronic premarket trading on the New York

Mercantile Exchange. Gold prices gave up $1 to $1,106 an ounce.

Overseas, Japan’s Nikkei stock average inched up 0.04 percent and

Hong Kong’s Hang Seng index gained 0.1 percent.

In late morning trading in

Europe, Britain’s FTSE 100 was up 0.6 percent, Germany’s DAX index added 0.1

percent, and France’s CAC-40 rose 0.3 percent.

Sapa-AP

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