Stock Futures Climb After Two-Day Dip


FOX Business: Capitalism Lives Here

U.S. stock-index futures ticked up Friday after a mild two-day dip for the broad S&P 500 as traders looked forward to a report on the manufacturing sector.

Continue Reading Below

Today's Markets

As of 8:05 a.m. ET, Dow Jones Industrial Average futures climbed 47 points to 15524, S&P 500 futures advanced 3.8 points to 1755 and Nasdaq 100 futures rose 10 points to 3379.

The S&P has receded from record highs in recent days as traders have grown more concerned about the prospects of the Federal Reserve tapering its giant asset purchasing program in December. Some analysts were looking to March as the beginning of the end of QE3.

Data from the Institute for Supply Management at 10:00 a.m. ET could shed more light on the economic picture. Economists expect the ISM PMI gauge to fall to 55 in October from 56.2 in September. Readings above 50 suggest the manufacturing sector is expanding, while those below signal it is contracting.

A regional report on the Midwestern manufacturing sector Thursday blew past expectations.

On the corporate front, JP Morgan Chase (NYSE:JPM) revealed in a regulatory filing the U.S. Justice Department and agencies from other jurisdictions are probing its hiring practices in Hong Kong. Sales figures from the Big Three U.S. automakers, General Motors (NYSE:GM), Ford (NYSE:F) and Chrysler, are due out as well.

In commodities, U.S. crude oil futures fell 55 cents, or 0.57%, to $95.82 a barrel. Wholesale New York Harbor gasoline dipped 0.54% to $2.573 a gallon. Gold fell $11.50, or 0.87%, to $1,312 a troy ounce.

Foreign Markets

The Euro Stoxx 50 fell 0.23% to 3061, the English FTSE 100 rose 0.03% to 6733 and the German DAX slipped 0.2% to 9016.

In Asia, the Japanese Nikkei 225 slid 0.88% to 14202 and the Chinese Hang Seng edged up by 0.19% to 23250.

What do you think?

Click the button below to comment on this article.