News Column

Wall Street seems buoyant, investors await confidence data

February 14, 2014

Investors are unlikely to get much love Friday, with few major corporate or economic news to ponder, but are likely to follow European and Asian shares higher. U.S. stock futures were slightly higher, with the NASDAQ looking to snatch seven straight sessions of gains. -Futures on the S&P 500 gained 0.055% to 1825.30 -Futures on the Dow Jones Industrial Average gained 0.088% to 15993 -Futures on the NASDAQ 100 advanced 0.157% to 3656.75 . As of 07:27 a.m. ET Benchmark indices on Wall Street finished higher Thursday, with the Dow Jones making its fifth gain in the last six sessions. Stocks in the U.S. could benefit from a rally in overseas markets , as Asian markets ended higher but Japanese shares. European shares were stronger in morning trade, having got some support from a better-than-expected reading on fourth-quarter growth. Eurozone Gross Domestic Product rose by 0.3% in the third quarter, and 0.5% compared with a year ago. This was the first sign of annual growth since 2011. In corporate news, Jos.A.Bank shares rose in premarket trading after the retailer announce it will acquire Eddie Bauer for $825 million. As for earnings results, companies including Campbell Soup and Hyatt Hotels are set to release quarterly results before markets open. Kraft Foods were up in after-hours trading Thursday after beating quarterly results estimates. On the economic calendar, investors await updates on U.S. industrial production, due at 09:15 a.m., and figures on import prices. The University of Michigan is set to release a preliminary reading on consumer confidence at 09:55 a.m. ET.

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Source: Financial Markets

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