Stock Futures Extend Climb Ahead of Goods Data

By MarketsFOXBusiness

FOX Business: Capitalism Lives Here

U.S. stock-index futures climbed on Wednesday, extending an advance from the last session, as traders awaited a key economic gauge.

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As of 7:20 a.m. ET, Dow Jones Industrial Average futures jumped 59 points, or 0.36%, to 16357, S&P 500 futures climbed 6.8 points, or 0.36%, to 1866 and Nasdaq 100 futures advanced 17.5 points, or 0.48%, to 3641.

The broad S&P 500 snapped a two-day losing streak on Tuesday, once again pushing back toward record highs. The move was driven by data suggesting the American economy appears to be rebounding from its winter doldrums, according to analysts.

A closely watched report on orders for long-last goods is due out at 8:30 a.m. ET. Durable goods orders are forecast to have risen by 1% in February, stemming a 1% slide from January. The report figures into broader growth views at investment banks.

Chris Beauchamp, a market analyst at IG, said the "main excitement" of the day will be the public debut of King Digital Entertainment. The maker of Candy Crush, which priced on the lower end of its range Tuesday night, will trade on the New York Stock Exchange under the ticker KING.

Meanwhile, the 30 largest U.S. banks and foreign financial institutions with major American wings will find out whether the Federal Reserve will approve their capital plans at 4 p.m. ET. Among the big names are JPMorgan Chase (NYSE:JPM), Bank of America (NYSE:BAC), Citigroup (NYSE:C) and Wells Fargo (NYSE:WFC).

Elsewhere, U.S. crude oil futures climbed 18 cents, or 0.18%, to $99.37 a barrel. Wholesale New York Harbor gasoline rose 0.42% to $2.895 a gallon. Gold rose $4.40, or 0.34%, to $1,316 a troy ounce.

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