Stock futures up ahead of CPI; China data inspires
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Stock futures up ahead of CPI; China data inspires
MADRID (MarketWatch) — U.S. stock market futures rose on Friday ahead of data on consumer prices and industrial production. Sentiment was inspired by upbeat news from China manufacturing , but investors were keeping a nervous eye on talks to avert the fiscal cliff.
Futures for the Dow Jones Industrial Average (CBE
JH3) rose 43 points, or 0.3%, to 13,137, while those for the Standard & Poor’s 500 index (GLC:SPH3) rose 4.2 points, or 0.3%, to 1,416.20.
Futures for the Nasdaq-100 index (CME:NDH3) rose 3.25 points to 2,650.25.
Providing some inspiration, HSBC’s China manufacturing Purchasing Managers’ Index for December rose to more than a year high of 50.9. Chinese stocks rallied on the news.
But markets are mostly going to home in on the fiscal cliff in coming days, said strategists.
“Whispers of deal or no deal will ultimately be deciding the short-term direction,” said Steen Jakobsen, chief economist at Saxo Bank in Copenhagen. “The market has given itself the holiday presents early and from a technical point of view, we have a risk of profit-taking, especially if a deal on the fiscal cliff drags on.” http://www.marketwatch.com/story/stock-future...beforebell
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