Dow futures flirt with 100-point jump, set to bump up weekly gain.
http://www.marketwatch.com/story/dow-futures-rise-more-than-100-points-set-to-bump-up-weekly-gain-2016-02-26
Dow futures flirt with 100-point jump, set to bump up weekly gain.
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U.S. stock futures signaled a step up at the open Friday, putting the market on track to add to a sizable weekly gain, as bullish investors seized on stocks regaining a key chart level. Oil futures,
European stocks and
Asian equities also were higher, as investors await fresh readings on U.S. economic growth, consumer sentiment, and personal income and outlays.
S&P; 500 futures ESH6, +0.46% rose 9.85 points, or 0.5%, to 1,960.25, while
Dow Jones Industrial Average futures YMH6, +0.48% gained 80 points, or 0.5%, to 16,752 after being up more than
100 points earlier.
Nasdaq 100 futures NQH6, +0.63% advanced by 26.75 points, or 0.6%, to 4,271 On Thursday, the
S&P; SPX, +1.13% closed
1.1% higher, while the Dow
DJIA, +1.29% jumped 1.3%, or
212 points, and the
Nasdaq Composite COMP, +0.87% tacked on
0.9%. The S&P; is 1.8% higher for the week, as of Thursday’s close, while the Dow is up 1.9% and the
Nasdaq, 1.7%. The S&P; has “regained its 50-day moving average, which could encourage the bulls,” said
Ian Williams, economist and strategist at
Peel Hunt, in a note, referring to a closely watched chart level. But he suggested there isn’t that much oomph in the recent rally. “Trading volumes on the up days have been modest thus far,”
Williams said. The main indexes remain firmly in the red for the year, with the S&P; and Dow down
4.5% and 4.2%, respectively, as of Thursday’s close. The Nasdaq has shed 8.5%. Individual movers:
Kraft Heinz Co.
KHC, +2.70% gained in premarket action. The food giant posted better-than-expected quarterly profit and revenue late Thursday.
Monster Beverage Corp.
MNST, +0.54% lost ground premarket, as the energy drinks maker’s quarterly results disappointed late Thursday.
Tim Cook defends
Apple's decision to resist an
FBI demand to unlock an iPhone used by one of the suspects in the
San Bernardino attack.
J.C. Penney Co.
JCP, +8.57% jumped premarket after the department store chain delivered better-than-expected earnings and an upbeat profit forecast late Thursday. Gap
Inc.’s
GPS, +1.17% quarterly profit topped estimates, but the clothing retailer’s full-year profit guidance was below expectations, helping to send shares lower premarket. Shares in
Foot Locker Inc. FL, +0.39% advanced as the sportswear retailer reported stronger-than-anticipated quarterly profit before the open.
Palo Alto Networks Inc.
PANW, +9.65% posted stronger-than-anticipated results Thursday, with the computer security specialist saying its quarterly release hit earlier than planned due to a “manual
error.” Shares climbed premarket. Other markets: Oil futures CLJ6, +1.51% traded higher early Friday, after gaining nearly 3% Thursday on news major oil producers plan to meet. Commodities-related stocks helped European markets SXXP, +1.13% advance. Asian stocks closed mostly higher, with
Chinese shares SHCOMP, +0.95% recovering from the prior day’s tumble.