By Anora Mahmudova and Sara Sjolin, MarketWatch Baker Hughes
climbs 7% premarket on Halliburton interest
NEW YORK (MarketWatch) -- U.S. stock futures had been heading
higher Friday but have been struggling to sustain its positive
momentum stronger-than-expected retails sales data were released in
the morning.
More economic data ahead this morning,including consumer
sentiment, could help fuel another push higher by equities or,
potentially, undercut market's rapid ascent.
At this point, the Dow Jones Industrial Average still looks on
track to remain in record territory, after logging its 25th record
close on Thursday.
Futures for the Dow Jones Industrial Average (DJZ4) climbed 14
points, or 0.1%, to 17,610, while those for the S&P 500 index
(SPZ4) added 1.60 points, or 0.1%, to 2,035.70. Futures for the
Nasdaq 100 index (NDZ4) rose 3 points, or 0.1%, to 4,208.
"Recently the Dow has weathered all numbers coming out of the
U.S., positive or otherwise, so its reaction to the U.S. retail
figures later today could provide an indication of the staying
power of this record run," said Connor Campbell, financial analyst
at Spreadex, in a note.
Economic data: Sales at U.S. retailers rose by more than
expected in October, bouncing back from the first decline in eight
months. September decline was not revised.
The prices paid for imported goods fell in October, largely due
to plunging global oil prices, the Labor Department said Friday.
The drop was in line with forecasts.
Next on the calendar, consumer-sentiment numbers due at 9:55
a.m. and business inventories at 10 a.m.
Movers: Baker Hughes Inc. (BHI) jumped 7.2% in premarket action
after The Wall Street Journal on Thursday reported that Halliburton
Co. (HAL) is interested in a tie-up.
Nordstrom Inc. (JWN) could also move after the retailer late
Thursday reported earnings and sales ahead of estimates.
Applied Materials Inc. (AMAT) was also in the spotlight
following its fiscal fourth-quarter earnings report that came out
late Thursday.
Other markets: Crude-oil (CLZ4) hovered around a multiyear low,
while Brent rebounded from a four-year low.
Metals were mostly lower, pressured by a rise in the dollar,
which rose against the yen, to Yen116.68.
In Asia, markets closed mixed, while Europe struggled for
direction after eurozone GDP numbers beat forecasts.
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