U.S. Stock-Index Futures Little Changed as Premier Climbs U.S. stock-index futures were little changed, with the Standard & Poor’s 500 Index near the 2,000 mark, as investors awaited data on durable-goods orders and consumer confidence. Premier Inc. rose 2.1 percent in late New York trading after predicting full-year profit that exceeded analysts’ estimates. Burger King Worldwide Inc. gained 4.8 percent in early trading after people familiar with the matter said Warren Buffett is helping to finance its takeover of Tim Hortons Inc. Futures on the S&P 500 (SPX) expiring in September rose 0.1 percent to 1,997.2 at 6:45 a.m. in New York. Dow Jones Industrial Average contracts added 22 points, or 0.1 percent, to 17,078 today. “I am still bullish on the U.S. market, but I do expect the S&P 500 to consolidate and slip back to 1,950-80 range as it’s due for a rest once it climbs to 2,000,” said Manish Singh, who helps manage $2 billion at Crossbridge Capital in London. “Any dip will be a shallow one. The central-bank and data narrative is still supportive of risk.” The S&P 500 yesterday gained 0.5 percent to an all-time high amid an increase in deal activity. The equity benchmark rose above 2,000 in intraday trading before closing at 1,997.92. A report at 8:30 a.m. in Washington may show new orders for durable goods in the world’s biggest economy jumped 8 percent in July, following a 1.7 percent increase in June, according to the median estimate of economists surveyed by Bloomberg. Consumer Confidence Data at 10 a.m. local time may show the Conference Board’s consumer confidence index fell to 89 this month from 90.9 in July, economists forecast. A third report may show an index of manufacturing in the region covered by the Federal Reserve Bank of Richmond fell to 6 in August from 7 in July. Premier rose 2.1 percent to $31 after forecasting full-year adjusted earnings of $1.39 to $1.44 a share, exceeding the average analyst estimate of $1.38. The purchasing network owned by health-care providers also agreed to buy software company Aperek Inc. for $48.5 million. Burger King climbed 4.8 percent to $33.96 after people familiar with the matter said Buffett’s Berkshire Hathaway Inc. will provide financing for a potential acquisition of Tim Hortons. The hamburger chain yesterday surged 20 percent after saying it is in talks with Tim Hortons, a seller of doughnuts and coffee. Exxon Mobil Corp. added 1.3 percent to $99.99 in early New York trading. The world’s biggest energy company by market value has declined 5.4 percent from a July 28 high. Prospect Capital Corp. dropped 2.2 percent to $10.74 in premarket trading after reporting net investment income of 25 cents a share for the fourth quarter, missing the average analyst forecast for 32 cents.
Posted on: Wed, 27 Aug 2014 10:46:37 +0000
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