S&P 500 Futures Gain After 2-Day Stock Drop; Apple, Disney Rise

U.S. stock-index futures rose, indicating equities will rebound from their worst two-day drop in three months.

Apple Inc. advanced 1.6 percent in premarket trading after settling a legal dispute with Ericsson AB. Walt Disney Co. gained 1.9 percent after the latest “Star Wars” film posted record weekend sales.

Standard & Poor’s 500 Index futures expiring in March rose 1 percent to 2,012 at 10:45 a.m. in London. The gauge slid to a two-month low on Friday amid concern over global growth after the Federal Reserve’s first rate increase since 2006. It extended a drop in the final minutes of trading because of a quarterly event in which futures and options on stocks and indexes expire. Dow Jones Industrial Average contracts added 153 points to 17,170 today.

The S&P 500 has fallen 3.6 percent in December, bucking the historical seasonal trend of gains, and is on track for its biggest annual drop since the 2008 financial crisis. It rebounded as much as 13 percent from an August low through November, before giving up 4.9 percent through last week.

Data later this week on home sales, durable-goods orders and personal income will offer cues on the health of the world’s biggest economy. U.S. equity markets will close early on Dec. 24 and reopen on Dec. 28.

Source : Bloomberg

MARKET

U.S. Stocks Fluctuate as Disney Weighs While Small Caps Advance

U.S. stocks fluctuated in a shortened post-Thanksgiving session amid declines in energy companies and as Walt Disney Co. led media shares lower while an index of small-caps headed toward its longest winning streak in eight months.

Disney fell 3 percent after saying ESPN subscriptions declined 3 percent in its last fiscal year. Viacom Inc. lost 2.2 percent. The Russell 2000 Index of small caps climbed for a fifth day amid gains in health-care and consumer staples companies, its longest rally since March.

The Standard & Poor’s 500 Index added 0.2 percent to 2,091.98 at 12:43 p.m. in New York, with the gauge holding near its highest level since Nov. 6. Markets will close at 1 p.m. today. The Dow Jones Industrial Average gained 3.34 points to 17,816.73, overcoming Disney’s 23-point drag. The Nasdaq Composite Index rose 0.3 percent.

Source: Bloomberg

MARKET