By Victor Reklaitis and Sara Sjolin, MarketWatch
NEW YORK (MarketWatch) -- U.S. stocks futures indicated a higher
open for Wall Street on Friday, as the S&P 500 eyed a weekly
gain and its best August performance in 14 years.
Stock futures trimmed their gains slightly after an unexpected
dip in consumer spending. Investors also are awaiting readings on
Chicago-area business conditions and consumer sentiment, both due
shortly after the opening bell.
Futures for the S&P 500 (SPU4) climbed 2.30 points, or 0.1%,
to 1,999, while those for the Dow Jones Industrial Average (DJU4)
added 13 points, or 0.1%, to 17,091. Futures for the Nasdaq 100
(NDU4) put on 5.25 points, or 0.1%, to 4,075.
Friday's advances follow a modestly downbeat session on
Thursday, when the S&P 500 retreated from 2,000 and halted its
three-day winning streak after Kiev said Russian forces had entered
Ukraine.
S&P eyes best August in 14 years: The S&P 500 (SPX)
gained 3.4% for the month through Thursday, and if holds would
represent its best August performance since 2000. It's also on pace
for its largest monthly percentage jump since February, when it
rose 4.3%. For the week, the benchmark is up 0.4%.
The Dow (DJI) is on track for advances of 0.5% for the week and
3.1% for the month, while the Nasdaq (RIXF) is eyeing climbs of
0.4% for the week and 4.3% for August.
Consumer spending slips: Consumer spending dipped 0.1% in July,
marking its first decline in six months and falling short of the
0.1% increase expected by economists polled by MarketWatch. At 9:45
a.m. Eastern, the Chicago purchasing managers index for August
comes out, with economists expecting a reading of 57.5. Then, 10
minutes later, the Reuters/University of Michigan consumer
sentiment index for August is slated to hit, with a reading of 80.1
anticipated.
Movers and shakers:Discount retailer Big Lots Inc. (BIG)
reported better-than-expected second-quarter earnings, while
revenue came in slightly below expectations. Shares were down 2.5%
ahead of the open.
Splunk Inc. (SPLK) jumped 6.1% in premarket action after the
big-date software producer late Thursday reported earnings that
topped analysts's estimates.
Veeva Systems Inc. (VEEV) leapt 10.2% ahead of the open. The
cloud-based software company late Thursday reported adjusted
second-quarter earnings ahead of forecasts.
Avago Technologies Ltd. (AVGO) climbed 6.1% ahead of the bell
after semiconductor company's earnings, out late Thursday, also
beat analysts' expectations.
(Read more about Friday's jumpiest stocks in the Movers &
Shakers column
http://www.marketwatch.com/story/splunk-rallies-freds-to-close-60-stores-2014-08-29.)
Other markets: European stock markets were little changed as
investors digested euro-zone inflation data. Stocks in Asia closed
mixed. Oil prices (CLV4) gained, while gold (GCZ4) moved lower. The
dollar (DXY) edged up against most rivals.
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