U.S. futures higher ahead of data; Dow Jones up 0.21%
Published Jun 06, 2013 06:45AM ET
Ahead of the open, the Dow Jones Industrial Average futures pointed to a 0.21% rise, S&P 500 futures signaled a 0.31% increase, while the Nasdaq 100 futures indicated a 0.20% gain.
Stocks found support after data on Wednesday showing that the U.S. private sector added fewer-than-expected jobs in May dampened expectations that the Fed would start to unwind its asset purchase program this year.
Payroll processor ADP said U.S. non-farm private employment rose by a seasonally adjusted 135,000 last month, below expectations for an increase of 165,000.
The data is sometimes seen as an indicator of Friday’s closely watched government report on nonfarm payrolls.
Tech stocks were expected to be active, after Samsung Electronic scored a victory in its long-running dispute against Apple over mobile device patents.
Separately, a Dell board committee said Carl Icahn’s takeover offer is “unrealistic” because of a projected USD3.9 billion shortfall in funding needed to pay a proposed dividend and run the company.
SodaStream International was also likely to be in focus, as shares skyrocketed 30.26% in pre-market trade after an Israeli business website reported that PepsiCo is in talks to buy the home soda-machine maker for more than USD2 billion.
Elsewhere in company news, Apollo Investment was reportedly nearing an agreement to buy health-care lender MidCap Financial LLC for about USD500 million.
Other stocks in focus included Ann, JM Smucker, Cooper Cos. and Vail Resorts, due to report first quarter earnings later in the day.
Across the Atlantic, European stock markets were higher. The EURO STOXX 50 rose 0.39%, France’s CAC 40 gained 0.35%, Germany's DAX added 0.19%, while Britain's FTSE 100 inched 0.04% higher.
During the Asian trading session, Hong Kong's Hang Seng Index tumbled 1.05%, while Japan’s Nikkei 225 Index retreated 0.85%.
Later in the day, the U.S. was to release the weekly report on initial jobless claims.
Get The News You Want
Written By: Investing.com
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.