US stock index futures remained almost unchanged today after markets closed high on Friday. Retail sales data is expected to show it rose in June by the most in four months, and after Chinese economic growth matched forecasts.
Futures contracts on the Standard & Poor’s 500 Index expiring in September gained 0.17% to 1,680.19 at 8:20 a.m. in New York. Contracts on the Dow Jones Industrial Average also rose by 0.17%, to 15,464.30. The S&P 500 closed at a record last week after Federal Reserve Chairman Ben S. Bernanke said monetary stimulus should be sustained. The benchmark added 3% last week, for a third week of gains and its biggest rally since Jan. 4.
Citigroup Inc., the third-biggest U.S. bank, posted a 42% increase in second-quarter profit that beat analysts’ estimates as stock-trading revenue climbed. Chief Executive Officer Michael Corbat, has cut thousands of workers and scaled back operations in some countries to reduce costs since taking charge of the bank in October.
Wells Fargo & Co. gained 1.1% in German trading.
Tiffany & Co., the world’s second-largest jewelry retailer, added 0.8 % to $77.60. Stifel Financial Corp. upgraded its recommendation on the shares to “buy” from “hold”, setting a price target of $92.
European stocks gained, following the biggest weekly advance for the region’s equity benchmark in two months. Asian shares were little changed. The Stoxx Europe 600 Index climbed 0.2% to 296.71 at 12:32 p.m. in London, diminishing its advance of as much as 0.7%. The gauge jumped 2.7 percent last week after Federal Reserve Chairman Ben S. Bernanke backed sustained monetary stimulus for the world’s largest economy.
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