Bloomberg News

U.S. Stock Futures Maintain Gain After Durable Goods Orders Grow

January 26, 2012

Jan. 26 (Bloomberg) -- U.S. stock-index futures maintained gains after orders for durable goods increased more than forecast and jobless claims remained below 400,000, adding to an earlier advance triggered by better-than-estimated earnings.

Futures on the Standard & Poor’s 500 Index expiring in March increased 0.4 percent to 1,325.0 at 8:31 a.m. in New York.

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Bookings for goods meant to last at least three years climbed 3 percent after a revised 4.3 percent gain the prior month that was more than previously estimated, data from the Commerce Department showed today. Economists projected a 2 percent increase, according to the median forecast in a Bloomberg News survey.

Applications for unemployment insurance payments climbed by

21,000 to 377,000 in the week ended Jan. 21, up from an almost four-year low in the prior period, Labor Department figures showed. The median forecast of 47 economists in a Bloomberg News survey projected 370,000.

Futures advanced earlier after earnings at companies including Caterpillar Inc. and Netflix Inc. exceeded analysts’ projections. Per-share-profit has topped estimates at 67 percent of the 132 companies in the S&P 500 that have released results since Jan. 9, data compiled by Bloomberg. Earnings have grown 4 percent for the group, bolstered by a more than doubling in profit at Apple Inc.

Benchmark gauges rose yesterday, sending the Dow Jones Industrial Average to the highest level since May, as the Federal Reserve signaled low rates through at least late 2014 and didn’t rule out bond purchases to bolster the economy. Investors also watched

To contact the editor responsible for this story: Michael P. Regan at mregan12@bloomberg.net


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