U.S. Stock-Index Futures Advance After Durable-Goods Report
U.S. stock futures rose after data showed orders for U.S. durable goods excluding transportation gear climbed in January by the most in a year.
Standard & Poor’s 500 Index futures expiring next month increased 0.1 percent to 1,494.2 at 8:33 a.m. in New York.
Bookings for equipment meant to last at least three years minus demand for things such as aircraft, which is often volatile, climbed 1.9 percent, exceeding the median forecast of economists surveyed by Bloomberg and the most since December 2011, Commerce Department data showed today in Washington. Total orders dropped more than projected, reflecting the biggest slump in defense bookings in a decade.
Pending sales of existing homes rose 1.8 percent in January after a 4.3 decline the previous month, economists predicted before a report from the National Association of Realtors due at 10 a.m. in Washington.
Federal Reserve Chairman Ben S. Bernanke will appear before the House Financial Services Committee in Washington for the second day of his semi-annual testimony to Congress on monetary policy.
The S&P 500 is down 0.1 percent for February, heading for its first monthly decline since October. The index has advanced 5 percent this year as companies reported better-than-estimated earnings and lawmakers agreed on a compromise budget, while putting off automatic spending cuts to March 1.
Bloomberg moderates all comments. Comments that are abusive or off-topic will not be posted to the site. Excessively long comments may be moderated as well. Bloomberg cannot facilitate requests to remove comments or explain individual moderation decisions.