Futures Extend Gains Amid Tame Inflation Data


FOX Business: Capitalism Lives Here

U.S. stock-index futures climbed further into the green as traders eyed falling producer prices and weekly jobless claims.

Continue Reading Below

Today's Markets

As of 8:44 a.m. ET, Dow Jones Industrial Average (INDEXDJX:DJI) futures rose 45 points, or 0.28%, to 15925, S&P 500 (INDEXSP:GSPC) futures advanced 3.8 points, or 0.22%, to 1784 and Nasdaq (NASDAQ:IXIC)100 futures gained 10.8 points, or 0.33%, to 3378.

Thursday was set to be a busy day for Wall Street.

The Labor Department reported wholesale prices fell 0.2% in October, matching economists’ expectations. Excluding the food and energy segments, prices rose 0.2%, slightly exceeding the 0.1% Wall Street expected. Prices have been broadly holding steady even as the Federal Reserve pushes hard on the economic accelerator, according to recent economic data.

The number of Americans filing for first-time unemployment benefits fell last week to 323,000 from an upwardly revised 344,000 the week prior, Labor said. Economists expected the number of claims to fall to 335,000 from an initially reported 339,000. Jobless claims have stabilized to some extend following the government shutdown in October.

Later, at 10:00 a.m. ET, market participants will get a reading on the manufacturing sector in the mid-Atlantic region. The Philadelphia Federal Reserve's PMI gauge is expected to have slumped to 15 in November from 19.8 the month prior. Readings above 0 point to expansion, while those below indicate contraction.

In corporate news, Target (NYSE:TGT) shares slumped after the retailer cut its full-year outlook amid a weaker-than-expected increase in comparable sales.

Elsewhere, U.S. crude oil futures edged up by 29 cents, or 0.31%, to $94.14 a barrel. Wholesale New York Harbor gasoline climbed 0.71% to $2.682 a gallon. Gold dipped $11.50, or 0.91%, to $1,247 a troy ounce.

What do you think?

Click the button below to comment on this article.