U.S. Stock Futures Trim Gain as Goods Data Miss Forecast
U.S. stock-index futures trimmed gains after government data showed orders for durable goods increased less than estimated in February.
Bookings for goods meant to last at least three years advanced 2.2 percent, less than projected after a revised 3.6 percent decline the prior month, data from the Commerce Department showed. Economists forecast a 3 percent gain, according to the median forecast in a Bloomberg News survey.
Futures on the Standard & Poor’s 500 Index expiring in June rose less than 0.1 percent to 1,407.2 at 8:33 a.m. in New York after earlier increasing as much as 0.4 percent.
The S&P 500 climbed 12 percent from the end of last year through yesterday, poised for the best first quarter since 1998, amid better-than-forecast earnings and economic data. Technology and financial shares rose the most among 10 groups, surging more than 21 percent so far in 2012.
U.S. stocks retreated yesterday as a report showing American consumer confidence near the strongest level in a year failed to encourage investors after the Standard & Poor’s 500 Index advanced to an almost four-year high.
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