By Sara Sjolin, MarketWatch Tiffany reports ahead of the
bell
LONDON (MarketWatch) -- U.S. stocks looked set to extend their
record run on Tuesday, with futures moving slightly higher ahead of
a raft of economic data, including GDP data, housing figures and
consumer confidence.
Futures for the Dow Jones Industrial Average (DJZ4) picked up 30
points, or 0.2%, to 17,822, while those for the S&P 500 index
(SPZ4) added 2.60 points, or 0.1%, to 2,070.10. Futures for the
Nasdaq 100 index (NDZ4) climbed 7.50 points, or 0.2%, to
4,289.50.
The small gains came after the S&P 500 (SPX) and Dow Jones
Industrial Average (DJI) closed at record levels on Monday.
Economic data: The second estimate of third-quarter gross
domestic product for the U.S. is likely to show the economy
expanded a bit slower than initially reported. Economists polled by
MarketWatch predict GDP growth will be shaved to 3.3% from 3.5%
when the government updates its figures at 8:30 a.m. Eastern
Time.
At 9 a.m. Eastern, an update on the housing market is due with
both the FHFA home-price index and the S&P Case-Shiller
home-price index scheduled for release.
Clues on household spending could emerge from the
consumer-confidence report for November that comes out at 10 a.m.
Consumer confidence is already at the highest level in seven years,
so the pickup in hiring and sudden plunge in gasoline prices could
add to the optimism.
Stocks to watch: Wal-Mart Stores Inc. (WMT) could be on the move
after The Wall Street Journal reported that the retailer's chief
merchandising officer Duncan Mac Naughton is expected to announce
his departure just days before one of the year's biggest shopping
days -- Black Friday.
Lennar Corp. (LEN) could also be active after RBC Capital
Markets lifted the price target on the home builder by 14% to
$54.
Tiffany & Co. (TIF) reports third-quarter earnings ahead of
the opening bell.
Other markets: European stock markets climbed after GDP data
from Germany confirmed Europe's largest economy dodged falling into
a technical recession in the third quarter. Asia stocks closed
mixed.
Oil futures (CLF5) advanced and metals prices (GCZ4) rose across
the board. The dollar (DXY) broadly rose, although it moved
slightly lower against the yen.
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