News Column

Futures Pointing To Continued Strength On Wall Street

May 27, 2014



WASHINGTON (Alliance News) - After turning in a strong performance last week, stocks may see some further upside in early trading on Tuesday. The major index futures are currently pointing to a higher open for the markets, with the Dow futures up by 66 points.

Early buying interest may be generated by the release of a report from the Commerce Department showing an unexpected increase in US durable goods orders in the month of April.

The report said durable goods orders increased by 0.8% in April after surging up by an upwardly revised 3.6% in March.

The continued growth came as a surprise to economists, who had expected orders to drop by 0.7% compared to the 2.9 jump that had been reported for the previous month.

Excluding an increase in orders for transportation equipment, durable goods orders edged up by a more modest 0.1% in April.

Not long after the open, the Conference Board is scheduled to release a separate report on consumer confidence in the month of May. Economists expect the consumer confidence index to edge up to 83.0 in May from 82.3 in April.



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Source: Alliance News


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