U.S. stocks: Futures up; consumers may be in better mood Monster Beverage lights up LONDON (MarketWatch) — U.S. stock futures indicated a positive start for Wall Street on Friday, with investors likely to be handed figures showing the mood of U.S. consumers has brightened.
Alongside the plateful of economic data, a speech by Federal Reserve Bank of Minneapolis President Narayana Kocherlakota will also be watched by investors.
Futures for the Dow Jones Industrial Average (CBE:DJU4) rose 43 points, or 0.3%, to 16,725, while those for the S&P 500 index (GLC:SPU4) picked up 4 points to 1,957. Futures for the Nasdaq 100 index (GLC:NDU4) rose 11.50 points, or 0.3%, to 3,979.50.
A reading on consumer sentiment from the University of Michigan/Thomson Reuters is due at 9:55 a.m. Eastern Time. The mood is expected to have improved in August; economists polled by MarketWatch expect a preliminary reading of 82.3, compared with 81.8 in July. Analysts look at sentiment surveys to get a feel for the direction of consumer spending, the key driver of the U.S. economy.
“Recent stock gains and the steady weekly decline in gasoline prices at the pump likely buoyed August sentiment,” wrote Crédit Agricole’s chief economist for North America Michael Carey.
The Federal Reserve’s July report on industrial production and capacity utilization is due at 9:15 a.m. Eastern Time. Economists project slight increases for each measure, with industrial production likely to increase a seasonally adjusted 0.3%.
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