News Column

US stock futures edge higher

May 13, 2014

STEVE ROTHWELL, AP Markets Writer



NEW YORK (AP) U.S. stock futures edged higher on Tuesday, a day after major indexes closed at record levels. DirecTV jumped on reports that AT&T is nearing a deal to buy the company.

KEEPING SCORE: Dow Jones industrial average futures rose 17 points to 16,672 at 9 a.m. Eastern Time. Standard & Poor's 500 index futures rose one point to 1,893, and Nasdaq futures have climbed four points to 3,612.

RECORD DAY: The Standard & Poor's 500 index finished at an all-time high of 1,896.65 on Monday. The Dow Jones industrial average also reached a record high, closing at 16,695.47.

RETAIL IS DETAIL: Growth of U.S. retail sales slowed in April as consumers shopped less online and cut back on purchases of furniture and electronics. The Commerce Department says retail sales rose 0.1 percent last month after surging 1.5 percent in March. The March increase followed a harsh winter that curtailed shopping.

DISH DEAL: DirecTV rose $2.74, or 3.1 percent, to $89.98 on reports that AT&T was close to completing a takeover of the satellite-television provider. The Wall Street Journal reported that a deal could be reached within two weeks, or sooner, and would value DirecTV at nearly $50 billion.

TREASURIES AND COMMODITIES: Bond prices rose. The yield on the 10-year Treasury Note dropped to 2.62 percent from 2.66 percent late Monday. The price of oil rose 67 cents, or 0.7 percent, to $101.27.


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Source: Associated Press


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