Friday, September 24, 2010

Futures Rise Slightly Before Durable Goods Data

There's No Business Like FOX Business
Stock futures pointed to a slightly-positive open on Friday as Wall Street waits for durable goods and new home sales data out this morning.
As of 7:30 a.m. in New York, the Dow Jones Industrial Average futures rose 38 points, or 0.36%, to 10644, the S&P 500 futures rose 4.6 points to 1125.00 and the Nasdaq 100 futures rose 10.75 points to 1992.25.
U.S. investors will get durable goods data at 8:30 a.m. ET followed by new homes sales shortly after the market open at 10 a.m. ET.
Economists are looking for durable goods orders to drop 1.4% for the August report, according to Thomson Reuters, compared with the 0.4% rise reported for July.
New home sales are expected to bounce off the multi-year low of 276,000 annualized units that was reported in the July data and rise to 291,000 units.
Gold remains in rally mode, striking $1,300 a troy ounce earlier this morning before backing off some. Oil was up 0.3% to $75.41 a barrel.
On Thursday, the Dow sank 76.89 points, or 0.72%, to 10662.42, the Standard & Poor's 500 fell 9.45 points, or 0.83%, to 1124.83 and the Nasdaq Composite dropped 7.47 points, or 0.32%, to 2327.08. The FOX 50 dropped 6.40 points, or 0.78%, to 813.71.

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