Stock futures point to extended Xmas rally
U.S. stock index futures pointed to a higher open on Wall Street on Tuesday, with futures for the S&P 500 up 0.16 percent, Dow Jones futures up 0.1 percent and Nasdaq 100 futures up 0.15 percent at 4.10 a.m. ET.
Mining and energy shares will be in focus as oil hovered below $79 after hitting a five-week high a day earlier, as the firm dollar eclipsed bullish expectations of a further drawdown in U.S. crude inventories and the colder weather, while metal prices surged, with London copper prices rallying more than 2.5 percent to a 16-month peak.
Morgan Stanley
The U.S. Federal Reserve on Monday pressed ahead toward the creation of a new mechanism it says could be used to withdraw money from the banking system once policymakers decide to tighten monetary policy.
On the macro front, investors awaited the Conference Board's consumer confidence index for December, due at 1500 GMT.
Shares of Imperial Sugar Co
U.S. stocks edged higher for a sixth straight day on Monday as data indicating improved consumer spending lifted shares of retailers, offsetting a drop in airline shares amid security worries.
The Dow Jones industrial average <.DJI> gained 26.98 points, or 0.26 percent, to end at 10,547.08. The Standard & Poor's 500 Index <.SPX> inched up 1.30 points, or 0.12 percent, to 1,127.78. The Nasdaq Composite Index <.IXIC> rose 5.39 points, or 0.24 percent, to 2,291.08.
The S&P 500 is on track to record a gain of 25 percent on the year.
(Reporting by Blaise Robinson; Editing by Hans Peters)
© Copyright Thomson Reuters 2024. All rights reserved.