U.S. stock-index futures extended gains after orders for durable goods excluding transportation equipment rose at twice the pace forecast by economists, easing concern the economic recovery is slowing. Futures on the Standard & Poor’s 500 Index expiring in December increased 0.8 percent to 1,129.2 at 8:31 a.m. in New York. Dow Jones Industrial Average futures advanced 82 points, or 0.8 percent, to 10,688. Durable goods orders excluding transportation climbed 2 percent in August, the Commerce Department said. Economists in a Bloomberg survey had predicted an increase of 1 percent, according to the survey median. The S&P 500 has climbed 7.2 percent in September as technology bellwethers announced buybacks, dividends and acquisitions. The benchmark for U.S. equities has declined 7.6 percent from this year’s high in April on concern that American unemployment and widening budget deficits in Europe would derail global growth. Commerce Department figures at 10 a.m. Washington time may show sales of new houses rose last month from a record low in July. Earlier gains in futures came after Nike Inc., the largest athletic-shoe maker, reported higher-than-estimated earnings. Total orders for athletic shoes and clothes for delivery between September and January grew 10 percent to $7.1 billion, the company said in its earnings statement yesterday. Orders for China surged 25 percent, outpacing all other regions on demand for basketball-related sportswear, compared with 15 percent in North America and declines of 7 percent in Western Europe and 8 percent in Japan. European equities recovered from earlier losses after German business confidence unexpectedly rose to a three-year high in September, suggesting companies can weather weaker demand from abroad as the global economic recovery slows. The Munich-based Ifo institute said its business climate index, based on a survey of 7,000 executives, increased to 106.8 from 106.7 in August. That’s the highest since June 2007. Economists had expected a drop to 106.4, according to the median of 36 forecasts in Bloomberg News survey. To contact the editor responsible for this story: Michael Regan at mregan12@bloomberg.net

Source