By Barbara Kollmeyer, MarketWatch
MADRID (MarketWatch) — U.S. stock-market futures pointed to gains on Friday, with consumer spending and new-home sales among data on tap, while volumes are expected to thin out ahead of the long Christmas weekend.
U.S. stock markets will be closed on Monday in observance of the Christmas holiday. Futures for the Dow Jones Industrial Average DJ2H +0.29% were recently up 49 points, or 0.4%, to 12,152.
Futures for the S&P 500 index SP2H +0.31% rose 6.1 points, or 0.5%, to 1,255.20. Nasdaq 100 futures ND2H +0.24% gained 8.5 points, or 0.4%, to 2,269.75.
Investors are awaiting more economic data for Friday. Personal-income and consumer- spending, along with durable- goods-orders data, all for November, will be released at 8:30 a.m. Eastern. At 10 a.m. Eastern, new-home sales for November are scheduled for release.
“Reports today should reveal that U.S. personal spending, durable-goods orders and sales of new homes all rose in November, after yesterday’s data showed a drop in jobless claims,” said Stephen Pope, managing partner at Spotlight Ideas, in emailed comments.
The Dow Jones Industrial Average DJIA +0.51% on Thursday added 61.91 points, or 0.5%, to 12,169.65, its third session of gains, after weekly jobless claims dropped to a multi-year low and consumer sentiment rose for December.
Lingering effects
That U.S. economic news had some lingering positive effects for European stock markets on Friday. The Stoxx Europe 600 index XX:SXXP +0.77% was last up 0.7% to 241.47 with oil and drug stocks taking the lead.
Shares of BP PLC BP +0.68% UK:BP +2.09% rose more than 2% on higher oil prices.
“Much of this is based on a degree of optimism that U.S. data points are starting to increasingly show that the USA is establishing traction and so should avoid a double-dip recession,” said Pope.
Russia’s central bank lowered interest rates by 0.25 percentage point to 8% on Friday, the first cut in the refinancing rate in more than a year.
Within corporate news, shares of Shutterfly Inc. SFLY -6.34% could be active after the Internet-based publishing-services provider cut its estimate of fourth-quarter sales and pretax profit. The company’s president and chief executive officer, Jeffrey Housenbold, cited an uncertain economy and sharper discounts by rivals during the holiday season.
Shares of Mead Johnson Nutrition Co. MJN -1.82% could see pressure. The shares fell 10% in after-hours trading on Thursday. Wal-Mart pulled the company’s Enfamil Newborn baby formula from its shelves after the death of an infant who had consumed the product.
Shares of Rambus Inc. RMBS +15.03% could be in focus. The shares jumped more than 5% in late trading Thursday after the company announced a patent-license agreement with Broadcom Corp. BRCM +0.74%
Among commodities, light, sweet crude oil for February delivery CL2G +0.46% rose 26 cents to $99.79 a barrel.
Gold futures for February delivery GC2G -0.10% fell $1.90 to $1,608.80 an ounce.
The dollar index DXY +0.04% was recently at 79.836, down from 79.929 in late North American trade on Thursday.
