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US STOCKS-Futures higher ahead of data, corporate results

Source : REUTERS
Last Updated: Mon, Apr 29, 2013 12:30 hrs

* Gold rises as dollar falls before ECB meeting

* Consumer spending data on tap

NEW YORK, April 29 (Reuters) - U.S. stock index futures rose on Monday, extending the previous week's gains, buoyed by upward momentum from European stocks and hopes for U.S. corporate results and economic data.

* Wall Street was poised to start the last week of April higher. So far, the S&P 500 is up 0.8 percent this month.

* In macroeconomic news, personal income and outlays, due at 8:30 a.m. EDT (1230 GMT) will be in focus after last week's disappointing first quarter gross domestic product numbers. Economists polled by Reuters forecast personal spending growth was flat last month, after rising 0.7 percent in February.

* Pending home sales data is due at 10:00 a.m. EDT and Dallas Federal Manufacturing Survey index is scheduled at 10:30 a.m. EDT.

* This week marks the last week of heavy earnings, with 137 S&P 500 companies due to report.

* Boosting equities, spot gold rose 0.6 percent to $1,470.96 an ounce. The metal rose on Friday to touch its highest since April 15 at $1,484.81.

* Weak U.S. growth data has raised expectations the Federal Reserve will keep its pace of bond buying at $85 billion a month, while the European Central Bank (ECB) is widely expected to announce an interest rate cut when it meets on Thursday.

* S&P 500 futures rose 4.7 points and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration of the contract. Dow Jones industrial average futures rose 43 points and Nasdaq 100 futures added 9.5 points.

* U.S. stocks dipped in thin volume on Friday, though the market had a strong week overall despite a mixed bag of earnings and weak economic figures.

* Hotel, energy and financial services conglomerate Loews Corp reported a 34 percent drop in first-quarter profit due to higher impairment charges and a sharp fall in investment income. The stock was unchanged in premarket trade.

* Shares of online retailer Amazon.com Inc posted the largest daily drop in 15 months after the company reported results late on Thursday. It was Friday's biggest drag on the S&P 500 and Nasdaq indexes.

* European shares edged up on Monday after Italy finally formed a government, ending two months of political uncertainty, although analysts saw the gains petering out in the near term.




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