U.S. stock-index futures advanced, indicating equities will rise, after the Standard & Poorâ€™s 500 Index posted its biggest monthly decline in a year.
Contracts on the S&P 500 expiring in March gained 0.3 percent to 1,994 at 6:08 a.m. in New York. Dow Jones Industrial Average futures added 44 points, or 0.3 percent, to 17,141. The S&P 500 fell 2.8 percent last week, extending a monthly loss, as weaker-than-forecast economic growth outweighed a rally in energy shares and the highest consumer confidence reading in 11 years, amid continuing concern in Europe over the new Greek governmentâ€™s challenge to an austerity program.
Among reports investors are watching to gauge the health of the U.S. economy is the Institute for Supply Managementâ€™s factory index. The gauge slipped to 54.5 in January from 55.1 in December, according to economist forecasts. Readings above 50 indicate expansion.
Source : Bloomberg
U.S. stocks climbed, building on a year in which the Standard & Poorâ€™s 500 Index surged to unprecedented highs and extended the bull market rally past 200 percent.
The S&P 500 added 0.6 percent to 2,070.49 at 9:33 a.m. in New York. The Dow Jones Industrial Average gained 95.20 points, or 0.5 percent, to 17,918.27.
The S&P 500 fell on the last two days of 2014, giving it a monthly decline of 0.4 percent for the first December drop since 2007. That trimmed its third straight annual gain to 11 percent.
The S&P 500, Dow and Russell 2000 Index climbed to records last month, while the Nasdaq Composite Index reached its highest level since March 2000. The S&P 500 closed at an all-time high on Dec. 29 for the 53rd time of the year, and the Dow reached 18,000 last week.
A report today will show that the Institute for Supply Managementâ€™s factory index slipped in December, economists forecast.