Dec. 23 (Bloomberg) -- U.S. stock-index futures were little changed before five economic reports, including one that may show inflation is in check, enabling the Federal Reserve to stick to its plan to raise interest rates at a ``measured pace.''

``People will interpret any economic data positively if they can, pushing the market on a bit further,'' said Julian Chillingworth, a fund manager at Rathbone Brothers Plc in London, which oversees the equivalent of $13.4 billion. ``We're reasonably optimistic.''

Shares of Walt Disney & Co., the second-largest U.S. media company, rose in Europe after people familiar with the matter said the U.S. Securities and Exchange Commission dropped a claim against its chief executive.

Standard & Poor's 500 futures expiring in March added 0.4 to 1211.5 as of 11:44 a.m. in London. Dow Jones Industrial Average futures gained 1 to 10,828. Nasdaq-100 Index futures rose 0.5 to 1617. Twenty-one of the 28 Dow stocks trading in Europe fell.

The S&P 500 Index and Dow Average rose to three-year highs yesterday as oil tumbled and a government report confirmed the U.S. economy accelerated in the third quarter.

U.S. government reports on U.S. personal spending, jobless claims, durable goods orders and new home sales in the world's biggest economy are expected today. The University of Michigan also releases its final report for December on consumer sentiment.

The personal consumption expenditures index, a gauge of prices tied to spending, may rise 2.5 percent in the 12 months that ended in November, compared with a 2.4 percent year-over-year gain the previous month, according to analysts.

Personal Consumption

The index excluding volatile food and energy prices, a measure tracked by Federal Reserve Chairman Alan Greenspan and other policy makers, probably rose 1.5 percent, matching October's 12-month increase.

Disney, the second-largest U.S. media company, added 40 cents to $28.03 in Germany. The SEC dropped a claim against Chief Executive Michael Eisner, freeing him from a settlement the company reached with the agency earlier this week over disclosure violations, people familiar with the matter said.

Macerich Co., a U.S. real estate investment trust that owns stakes in 63 regional malls, may be active after agreeing to buy Wilmorite Properties Inc. and Wilmorite Holdings LP for about $2.33 billion to gain properties in the east of the country.

PalmSource Inc., the maker of software for Palm hand-held computers, fell 10 percent to $11.86 in Germany. The company said fiscal third-quarter sales will be as much as $18.9 million, less than the $23 million average estimate by analysts in a Thomson Financial survey.

Red Hat Inc., the world's biggest distributor of the Linux computer-operating system, fell 4.6 percent to $14.37 in Germany. The company said fiscal third-quarter revenue was $50.9 million, less than the $51.8 million average estimate of analysts polled by Thomson Financial.

HealthSouth Corp

HealthSouth Corp., whose founder Richard Scrushy faces trial next month on charges of directing a $2.7 billion accounting fraud, may soon settle as much as $325 million in Medicare-fraud claims, the Wall Street Journal said, citing people familiar with the situation. The shares didn't trade in Europe.

Newmont Mining Corp., the world's largest gold producer, gained 29 cents to $45.02 in Germany. The company said it complied with mercury emission regulations at a mine in Indonesia. The New York Times yesterday gave an inaccurate picture of the mine's environmental performance, Newmont said in a statement.

Constellation Brands Inc., the world's largest winemaker, won approval from shareholders of Robert Mondavi Corp. to acquire the Napa Valley winery, the Wall Street Journal reported, without saying where it got the information. Neither stock traded in Europe.

The Dow average yesterday reached its highest close since June 2001 for a second day, adding 0.5 percent to 10,815.89. The S&P 500 gained 0.3 percent to 1209.57, the highest since August 2001 and surpassing a similar peak one week ago.

The Nasdaq Composite Index rose 0.3 percent to 2157.03, leaving it less than 1 percent shy of matching a three-year high set on Dec. 15.

To contact the reporter on this story: Brian McGee in London at bmcgee3@bloomberg.net.

Last Updated: December 23, 2004 06:52 EST