June 27 (Bloomberg) -- U.S. stock-index futures advanced, indicating that the benchmark Standard & Poor’s 500 Index will rebound from three days of losses, before a report on consumer spending in the world’s largest economy.
Stanley Black & Decker Inc. may move after the tool company offered to buy Sweden’s Niscayah AB for about $1.2 billion. Nike Inc. gained 1.2 percent in German trading before reporting earnings.
S&P 500 futures expiring in September rose 0.3 percent to 1,267 at 7:38 a.m. in New York. Futures on the Dow Jones Industrial Average expiring the same month gained 22 points, or 0.2 percent, to 11,903.
A Commerce Department report at 8:30 a.m. in New York may show that consumer spending rose in May at the slowest pace in almost a year because of fewer new-car purchases and dimmer employment prospects. Economists forecast a gain of 0.1 percent, according to the median of 63 estimates compiled by Bloomberg.
Greek lawmakers will vote on a five-year austerity plan this week that must pass before the European Union and the International Monetary Fund will agree to provide further aid. Failure to pass the plan may lead to the euro area’s first sovereign default as Greece needs to cover 6.6 billion euros ($9.4 billion) of maturing bonds in August.
Greek Austerity Measures
The first session of the three-day debate will begin at 6 p.m. in Athens today. The lawmakers will probably vote on June 29. They also need to pass an implementation law, which provides the technical details of how the five-year plan will be applied, before June 30.
The S&P 500 has rallied 87 percent since March 2009 as the Federal Reserve held interest rates at a record low. Central banks need to start raising rates to control inflation and may have to act faster than in the past, the Bank for International Settlements said in its annual report published yesterday.
Stanley Black & Decker may be active after the owner of DeWalt industrial power tools agreed to buy Niscayah for 7.6 billion kronor ($1.2 billion), outbidding rival Securitas AB to secure its expansion into the market for electronic security systems. Stanley’s shares didn’t trade in Europe.
Nike advanced 1.2 percent to $82.19 in Germany. The world’s largest maker of athletic shoes releases earnings after the close of trading today.
--Editors: Andrew Rummer, Will Hadfield
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