Broader indexes heading higher
NEW YORK (AP) — U.S. stock futures are rising ahead of a trio of government reporters about the behavior of consumers and businesses, as well as the health of the housing market.
With retailers heading into the final days of their most crucial season, the Commerce Department is expected to report that spending rose 0.3 percent last month after ticking up 0.1 percent in October. And incomes are estimated to have grown 0.3 percent after rising 0.4 percent in October — the best showing since March.
The department will also report on business orders for durable goods in November. Forecast is that orders rose 2 percent after dropping 0.5 percent in October. Spending on so-called core capital goods, considered a proxy for business investment plans, dropped in October by the most since January.
Also on tap Friday, new home sales. Analysts are expecting the Commerce Department to report that in October, new home sales rose to a seasonally adjusted annual rate of 307,000. That’s less than half the 700,000 that economists say must be sold to sustain a healthy housing market, with foreclosed homes torpedoing their value.
An hour before the start of trading, futures for the Dow are up 49 points to 12,152, while futures for the broader S&P 500 index are up 6.11 points to 1,255.20.