U.S. equity markets looked set to open higher Friday as investors looked ahead to consumer spending data and the Chicago purchasing managers index due later.
In pre-market trading, the Dow Jones Industrial Average rose 12 points to 13,033.17, the S&P 500 gained 0.3 points to 1,416.12 and the NASDAQ added 4.25 points to 2,684.25.
Thursday, U.S. markets ended in the green with the Dow closing up 0.28%, the S&P 500 was 0.43% higher and the NASDAQ ended the session up 0.68%.
Thursday House Speaker John Boehner said "no substantive progress" had been made in talks to avoid taking the U.S. over the fiscal cliff. Debt negotiations will continue to command the attention of investors.
In corporate news, Zynga![ext]()
(NASDAQ:ZNGA![ext]()
) shares tumbled in after-hours trading on news that the terms of its deal with Facebook![ext]()
(NASDAQ:FB![ext]()
) had substantially changed.
Zynga![ext]()
is no longer obligated to use Facebook![ext]()
’s credits system to handle payments for games offered on its own Zynga![ext]()
.com platform. But any Zynga![ext]()
games offered on that platform, or other platforms, must be offered on Facebook![ext]()
as well. In addition, Facebook![ext]()
will be able to develop its own games for its platform.
Apple![ext]()
’s (NASDAQ:AAPL![ext]()
) iPhone 5 has been approved for release in China by regulators, clearing the way for the phone to debut in December. China is Apple![ext]()
’s second largest market.
Citigroup (NYSE:C![ext]()
) is planning to cut 150 more jobs this quarter and reduce bonuses by as much as 10% at its trading and investment bank unit, according to media reports.
Shares of Yum! Brands![ext]()
(NYSE:YUM![ext]()
) fell after-hours as the firm softened its expectations for China, predicting that same-store sales in that key market would decline 4% in the fourth quarter.
Supervalu (NYSE:SVU![ext]()
) late Thursday issued a statement saying that the grocery-chain operator remains "in active discussion with several parties" as part of its review of strategic alternatives, which began in July.
On the economic front, consumer-spending and -income data for October are expected to show a gain of 0.1%, with incomes doing slightly better at a 0.2% rise, according to economists polled by MarketWatch.
The Chicago PMI is due for release at 9:45 a.m. Eastern. The data, which sometimes move markets, are forecast to rise to 50.5 in November from 49.9 in October, pointing to a return to growth territory.
Commodities
On the NYMEX, crude futures for January delivery were up 0.07% at $88.13 a barrel while gold futures were 0.17% higher at $1,732.50 an ounce.
Europe
European markets were higher with the DAX up 0.41%, the CAC 40 was 0.36% higher and the FTSE 100 was up 0.19%. Reported by Proactive Investors 12 minutes ago.
In pre-market trading, the Dow Jones Industrial Average rose 12 points to 13,033.17, the S&P 500 gained 0.3 points to 1,416.12 and the NASDAQ added 4.25 points to 2,684.25.
Thursday, U.S. markets ended in the green with the Dow closing up 0.28%, the S&P 500 was 0.43% higher and the NASDAQ ended the session up 0.68%.
Thursday House Speaker John Boehner said "no substantive progress" had been made in talks to avoid taking the U.S. over the fiscal cliff. Debt negotiations will continue to command the attention of investors.
In corporate news, Zynga
(NASDAQ:ZNGA) shares tumbled in after-hours trading on news that the terms of its deal with Facebook (NASDAQ:FB) had substantially changed.Zynga
is no longer obligated to use Facebook’s credits system to handle payments for games offered on its own Zynga.com platform. But any Zynga games offered on that platform, or other platforms, must be offered on Facebook as well. In addition, Facebook will be able to develop its own games for its platform.Apple
’s (NASDAQ:AAPL) iPhone 5 has been approved for release in China by regulators, clearing the way for the phone to debut in December. China is Apple’s second largest market.Citigroup (NYSE:C
) is planning to cut 150 more jobs this quarter and reduce bonuses by as much as 10% at its trading and investment bank unit, according to media reports.Shares of Yum! Brands
(NYSE:YUM) fell after-hours as the firm softened its expectations for China, predicting that same-store sales in that key market would decline 4% in the fourth quarter.Supervalu (NYSE:SVU
) late Thursday issued a statement saying that the grocery-chain operator remains "in active discussion with several parties" as part of its review of strategic alternatives, which began in July.On the economic front, consumer-spending and -income data for October are expected to show a gain of 0.1%, with incomes doing slightly better at a 0.2% rise, according to economists polled by MarketWatch.
The Chicago PMI is due for release at 9:45 a.m. Eastern. The data, which sometimes move markets, are forecast to rise to 50.5 in November from 49.9 in October, pointing to a return to growth territory.
Commodities
On the NYMEX, crude futures for January delivery were up 0.07% at $88.13 a barrel while gold futures were 0.17% higher at $1,732.50 an ounce.
Europe
European markets were higher with the DAX up 0.41%, the CAC 40 was 0.36% higher and the FTSE 100 was up 0.19%. Reported by Proactive Investors 12 minutes ago.