U.S. Stock Futures Trim Gains After Retail Sales Growth Trails Estimates

U.S. stock-index futures trimmed gains after government data showed retail sales climbed less than economists forecast in November.

Futures on the Standard & Poor’s 500 Index expiring in March rose 0.5 percent at 8:32 a.m. in New York after earlier climbing as much as 0.7 percent.

The 0.2 percent gain in retail sales followed a 0.6 percent advance in October that was more than initially reported, Commerce Department figures showed. Economists projected a 0.6 percent November increase, according to the median forecast in a Bloomberg News survey. Purchases excluding automobiles also rose 0.2 percent.

The S&P 500 slipped 1.5 percent yesterday, retreating after a back-to-back weekly gain, as Moody’s Investors Service and Fitch Ratings said the Dec. 9 euro-area accord failed to ease the debt crisis and Intel Corp. cut its revenue forecast.

The Federal Reserve may keep its target rate in a range of zero to 0.25 percent at a policy meeting today, according to a Bloomberg News survey. Chairman Ben S. Bernanke and his policy- making colleagues meet today to discuss the outlook for an economy that has strengthened since their November gathering. The Federal Open Market Committee will announce its interest- rate decision at 2:15 p.m. in Washington.

To contact the editor responsible for this story: Michael P. Regan at mregan12@bloomberg.net

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.