By Carla Mozee, MarketWatch
LONDON (MarketWatch) -- U.S. stock futures gained Friday,
implying that markets might be in a buying mood after global
anxiety helped contribute to some of the sharpest declines in two
months.
Today's more sanguine posture comes in anticipation of U.S.
gross domestic product that some economists project will show that
the U.S. economy is growing at its fastest pace since the Great
Recession. Although additional data coming out may point to a
pullback in consumer sentiment this month.
At this point, markets are looking generally upbeat. Futures for
the Dow Jones Industrial Average (DJZ4) were up 30 points, or 0.2%,
to 16,930, while those for the S&P 500 index (SPZ4) rose 2.50
points, or 0.1%, to 1,964.10. Nasdaq-100 index futures (NDZ4) were
up 6.3 points, or 0.2%, to 4,013.50.
Data: The third and final reading on U.S. GDP -- due at 8:30
a.m. Eastern from the Commerce Department -- is likely to be raised
to 4.7% from a prior estimate of 4.2%. That upwardly revision could
come as mainly fresh data show consumers spent more on health care
than previously estimated.
Inventories are a key figure to watch in the report as a gain
would suggest companies maintained a healthy level of production
into the early fall.
At 9:55 a.m. Eastern, the final print of University of Michigan
consumer confidence may dip from a preliminary reading of 84.6.
Economists polled by MarketWatch forecast a 84.3 reading.
Apple Inc. shares (AAPL) rose 1% ahead of the opening bell. They
dropped nearly 4% on Thursday as the company tried to calm concerns
about its new iPhone 6 Plus bending claims.
Apples product woes added to the overall Thursday selloff on
Wall Street. Both the S&P 500 (SPX) and Dow (DJI) suffered
their biggest drops since July 31, and the Nasdaq Composite (RIXF)
fell 1.9%. The benchmarks are each on track for weekly losses of at
least 1.9%.
Stocks to watch:
Nike (NKE) shares jumped 7.7% before the bell after the athletic
apparel and gear maker late Thursday posted better-than-expected
quarterly earnings.
BlackBerry (RIMM) shares climbed 5% in premarket trade after the
Canadian smartphone maker's narrower-than-expected fiscal
second-quarter loss offset a miss in sales.
Finish Line (FINL) reported that its profit fell 1.3%, hampered
by rising expenses. The athletic apparel company posted
second-quarter earnings of 54 cents a share on revenue of $466.9
million, missing FactSet analysts' estimates of 60 cents a share on
revenue of $478.1 million.
Chiquita Brands International (CQB) and Fyffes PLC agreed to
revised terms of a merger plan under which Chiquita would have a
greater share of the combined company.
Chip maker Micron (MU) gained 4.8% before the open after
fourth-quarter results topped Wall Street's estimates late
Thursday.
Other markets: Overnight, Australia's S&P/ASX 200 erased its
gains for the year, keying off Wall Street's selloff and a slump in
iron-ore prices. European stocks were higher, but major benchmarks
were still on track for weekly losses.
Gold futures (GCZ4) turned down nearly $3 an ounce while oil
futures(CLX4) headed slightly higher.
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