🔮 Better than the Oracle? Our Fair Value found this +42% bagger 5 months before Buffett bought itRead More

US STOCKS-Futures gain on oil, Dell; consumer data on tap

Published 08/28/2009, 07:28 AM
Updated 08/28/2009, 07:30 AM
NDX
-
DELL
-
0762
-
CL
-

NEW YORK, Aug 28 (Reuters) - U.S. stock futures rose on Friday fueled by higher oil prices and a better-than expected quarterly performance by computer maker Dell Inc.

* Shares of Dell, the world's No. 2 personal computer maker, rose 3 percent in premarket trading, a day after posting a stronger-than-expected profit and saying it cut costs and protected prices.

* Crude oil futures gained 1 percent after data showed the British economy shrank less than expected in the second quarter, following on a smaller-than-forecast drop in U.S. gross domestic product.

* S&P 500 futures rose 6.1 points and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures gained 35 points and Nasdaq 100 futures added 9 points.

* Shares of Apple Inc jumped 1 percent before the bell after China Unicom, China's No. 2 mobile carrier, agreed to sell the iPhone in China, giving Apple access to the world's largest mobile market.

* Investors will eye the release of U.S. personal income and spending data for July, expected at 8:30 a.m. EDT. The Reuters/University of Michigan final August consumer sentiment index is due at 9:55 a.m.

* U.S. stocks closed higher on Thursday as investors turned back an early selloff, thanks to a rebound in oil prices.

* The Dow Jones industrial average gained 0.4 percent, the Standard & Poor's 500 Index added 0.3 percent, and the Nasdaq Composite Index rose 0.2 percent.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.