MW:U.S. stock futures edge higher, data, oil in focus
By Barbara Kollmeyer, MarketWatch
MADRID (MarketWatch) — U.S. stock market futures pointed higher on Friday, with major indexes poised to end the week on a positive note as investors eye oil prices and await a consumer sentiment survey and data on home sales.
Futures on the Dow Jones Industrial Average DJH2 +0.28% rose 32 points, or 0.3%, to 13,006. S&P 500 Index futures SPH2 +0.31% rose 4.30 points, or 0.3%, to 1,367.20, while Nasdaq 100 futures NDH2 +0.21% rose 6.5 points, or 0.3%, to 2,607.25.
Upbeat economic reports helped the Standard & Poor’s 500 index SPX +0.43% end near a 10-month high on Thursday. The Dow Jones Industrial Average DJIA +0.36% closed up 46.02 points, or 0.4%, to 12,984.69, a new 52-week high and its highest close since May 19, 2008.
“There is likely to be a big effort to push the Dow higher and engineer a close above 13,000 tonight,” said David Morrison, senior market strategist at GFT Markets. “This should also see the S&P close out at its highest level since April last year.
Morrison said central bank liquidity operations continue to support equities and other perceived ‘risk assets’ like precious metals and oil.
“Investors are also convinced that sufficient firewalls are in place to insulate other euro-zone countries in the event of Greece defaulting — something that is now viewed as highly probable,” he said.
Crude oil for April delivery CLJ2 +0.54% rose 47 cents, or 0.4%, to $108.29 a barrel. Oil surged by $1.55 a barrel on Thursday amid worries Iran could stop sending oil to some European nations. Read more on crude
Economic data will remain a focus for investors on Friday. Consumer sentiment for February from Thomson Reuters/University of Michigan and new home sales data for January are both due around 10 a.m. Eastern.
The corporate calendar is thin, with quarterly results expected ahead of the market open from J.C. Penney Co. Inc. JCP +0.14% , Washington Post Co. WPO +0.44% and Pepco Holdings Inc. POM -0.30% .
Shares of Salesforce.com Inc. CRM +9.80% rose 10% in pre-opening trade. The online business-software maker on Thursday reported fourth-quarter results and a revenue forecast that exceeded Wall Street’s forecasts.
Shares of American International Group Inc. AIG +7.36% rose 9% after the insurer on Thursday reported a 77% profit rise in the fourth quarter, driven by a large tax benefit.
European stock markets traded higher, with the Stoxx Europe 600 index XX:SXXP +0.34% up 0.3%, lifted by banks and oil majors. Asia stocks finished higher in a choppy session.
Gold for April delivery GCJ2 -0.29% fell $4.40 to $1,781.80 an ounce. The dollar was also declined. The ICE dollar index DXY -0.22% , which measures the greenback against a basket of six currencies, traded at 78.476, down from 78.677 in late North American trading on Thursday.
