US Stock Futures Little Unchanged
US stock-index futures were little changed today, as investors awaited home sales, factory orders and jobless claims data. While futures for Standard & Poor’s 500 Index expiring this month lost less than 0.1% to 1,118.30 as of 6:53 am in New York, the Dow Jones Industrial Average futures moved up 0.1% to 10,394. Nasdaq 100 Index futures added less than 0.1% to 1,852.75.
Yesterday, the S&P 500 rose to the highest level since January 20, as investors banked on banks achieving high earnings growth, more corporate acquisitions and a possible resolution to Greece’s fiscal problems. The benchmark index for US stocks has slipped by 8.1% so far this year, from the high reached on January 19, due to concern regarding weak job market and widening budget gaps in Greece, Spain and Portugal.
Apart from the data on home sales, factory orders and jobless claims, investors will be focusing on retailers today, as they are scheduled to report their monthly sales results for February. Analysts expect the severe weather conditions across the US to have hurt retail sales in the month.
In Europe, shares ended marginally higher, with gains in banks offsetting weakness in drugmakers, as investors await interest rate decisions from the Bank of England and European Central Bank. Meanwhile, Asian shares failed to retain their early gains and slipped into negative territory on Greece worries.
Read more from Benzinga's Markets.
