U.S. stock-market futures extended their gains Friday after a smaller-than-expected fall in durable-goods orders and as an improvement in German business sentiment also provided support. See Indications.
Global markets
European stocks were mostly higher, helped by a surprise improvement in German business sentiment. Asian markets ended mixed, with Japan’s Nikkei 225 Average closing down 1% after a roller-coaster session. There was speculation of further intervention in currency markets by Japanese authorities.
Breaking news
Shares of Nike Inc. (NKE 82.28, +4.61, +5.94%) rose around 6% in pre-market trading after the sportswear giant late Thursday reported a fiscal first-quarter profit of $559 million, or $1.14 a share, compared to a profit of $513 million, or $1.04 a share, a year earlier. Analysts polled by FactSet Research had expected earnings of $1.01 a share.
Orders for U.S.-made durable goods dropped 1.3% in August, according to the Commerce Department, though the decline was smaller than the 1.4% fall expected by economists. Excluding transportation, new orders rose 2%.
Gold futures climbed above $1,300 an ounce, continuing their record-breaking run, as investors bought the metal for its safe-haven features. Gold for December delivery hit an intraday high of $1,301.30 an ounce.
Brazil’s Petroleo Brasileiro SA, or Petrobras, (PBR 35.74, +0.15, +0.42%) late Thursday priced its upcoming share sale, saying it will raise around $67 billion in what will be the world’s biggest share offer. The company’s American depository receipts, which represent two voting shares, were priced at $34.49 each.
KB Home (KBH 12.29, +0.58, +4.95%) said its third-quarter loss narrowed to $1.4 million, or 2 cents a share, from $66 million, or 87 cents a share, a year earlier. The loss was also smaller than the 15 cents a share forecast by analysts.
