U.S. stock-index futures rose today as data showed private-sector employment picked up in May and the U.S. trade deficit narrowed in April, and as investors focused on upbeat news out of Europe.
Futures for the Dow Jones Industrial Average rose 0.1 percent to 18,023, while those for the S&P 500 index picked up 0.1 percent to 2,109. Futures for the Nasdaq 100 index climbed 0.2 percent to 4,511.
The S&P 500 dropped 0.1 percent yesterday, after reaching a three-week low intraday.
In Europe today, the European Central Bank is widely expected to reaffirm its commitment to a trillion-euro asset purchase program.
DATA:
The U.S. trade deficit contracted 19.2 percent in April after hitting a seven-year high in March, a big swing largely caused by a dockworkers strike earlier in the year.
Private sector job creation swung higher in May after a lackluster April, with companies adding 201,000 positions for the month, according to payroll firm ADP. The number was just about in line with expectations for a 200,000 gain thanks largely to a big gain in service sector jobs.
The ISM non-manufacturing index for May comes out at 10 a.m., followed by the Federal Reserve’s Beige Book at 2 p.m.
Later today, the Fed releases its Beige Book survey, which provides anecdotal information about the economy based on reports from regional banks. Economists project the first rate increase will come in September.
MOVERS:
Synchronoss Technologies' (NASDAQ:SNCR) jumped 22.2 percent in premarket trading after the Wall Street Journal reported that the software maker was working on a possible sale that could be valued at more than $2 billion.
Guess (NYSE:GES) inched down 0.6 percent after reporting a worse-than-expected 8% drop in quarterly revenue.
Wendy’s (NASDAQ:WEN) soared 3.2 percent to $11.10 after the quick-service restaurant company announced a $1.4 billion buyback and the completion of the sale of its bakery operations.
G-III Apparel Group (NASDAQ:GIII) jumped 8.2 percent after the New York-based company reported its first-quarter earnings surged to $6.8 million from $1.1 million a year ago. On a per share basis, the company earned $0.15 per share, ahead of $0.07 per share forecast by analysts.
Vera Bradley (NASDAQ:VRA) tanked 11 percent after the handbag retailer swung to a loss in its first quarter and again issued dismal guidance.
Brown-Forman (NYSE:BF.B) said its sales grew a better-than-expected 6 percent pace, buoyed by its focus on the Jack Daniel's trademark brand.
COMMODITIES:
Spot gold slipped 0.1 percent to $1,192.70 an ounce while U.S. gold futures for August delivery fell $1.80 to $1,192.60 an ounce.
Benchmark Brent Crude Oil for July fell $1.75 to a low of $63.74 before recovering a little to around $63.90, down around 2.5 percent. U.S. crude was down 2.25 percent at $59.86 a barrel.
OTHER MARKETS:
European stock markets fluctuated as investors waited for the latest developments on Greece.
Asian stock markets closed mostly lower, although the Hang Seng Index in Hong Kong gained with the help of newly listed conglomerate Cheung Kong Property.