U.S. Stock Futures Gain as Data Show Jump in Home Prices
U.S. stock-index futures advanced, signaling the equity market will rebound after a three-day slump, after a report showed home prices in 20 U.S. cities rose by the most in more than seven years.
Futures on the Standard & Poor’s 500 Index increased 0.1 percent to 1,694.70 at 9:05 a.m. in New York after fluctuating between gains and losses before the home-price report. The benchmark gauge had lost 1.4 percent in the previous three sessions.
The S&P/Case-Shiller index of property values in 20 cities increased 12.4 percent in July compared with July 2012, matching the median projection of 31 economists surveyed by Bloomberg and the biggest year-to-year advance since February 2006, a report from the group showed today in New York.
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