US stock-index futures rose, signaling indexes would expand record heights after posting six weeks of gains, as investors focus on this weeks data on manufacturing, retail sales and consumer prices to assess the strength of the economy.
Futures on the Standard & Poor’s 500 expiring in December gained 0.2% to 1,796.8 at 12:22 p.m. in London. The equity benchmark rose for the sixth week to a record after Janet Yellen signaled she will continue Federal Reserve stimulus efforts as the central bank’s chairman. Dow Jones Industrial Average contracts added 27 points, or 0.2%, to 15,940 today. Nasdaq added 0.1% to 3,420.
“I think there is room here to take profits from this bullish trend,” Arnaud Scarpaci, who helps oversee about $270 million at Montaigne Capital in Paris, said by phone to Bloomberg. “As we head towards the end of the year and next year’s debt-ceiling debate, I expect volatility to start rising. I am very cautious about the beginning of next year.”
China’s stocks jumped today, with the benchmark index for companies in Hong Kong surging the most since December 2011, after the government promised to ease the one-child policy and boost private investment as part of the largest economic reforms since the 1990s.
Wednesday is supposed to be the busiest day of the week as retail sales, consumer prices, existing home sales, and the minutes of the Federal Reserve’s October 29-30 meeting are all due for release.
In corporate world, Boeing gained 3.2% to $140.44 in European composite trading. The company took an early lead over rival Airbus SAS in the biennial Dubai expo, signing up Etihad Airways PJSC for its new 777X wide-body planes as well as for more 787 Dreamliners.
The company created when American Airlines and US Airways Group Inc. merge will list its shares on the Nasdaq Stock Market, a victory for the exchange operator after losing Twitter Inc.’s initial public offering. The new American will be the world’s biggest airline by passenger traffic, passing United Continental Holdings Inc.
Salesforce.com, the global cloud computing company is projected to report third-quarter earnings of 9 cents a share, according to a consensus survey by FactSet.
Urban Outfitters, clothing retailer is forecast to post third-quarter earnings of 45 cents a share.
Tyson Foods, one of the worlds largest processors of meat is likely to post fiscal fourth-quarter earnings of 70 cents a share.