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Aug 15, 2016

U.S. Stock Market Future Indications, by MarketWatch - August 15, 2016: U.S. Stocks Futures Higher Ahead of Empire State Reading


marketwatch.com

Victor Reklaitis


U.S. stock futures on Monday pointed to a slightly higher open as oil gained, putting the market on track to add to its run of record closes.

Investors are waiting for a fresh reading on New York state’s manufacturing industry ahead of the bell, followed by a report after the open on the nation’s housing market.
S&P 500 futures ESU6, +0.14%  rose 3.05 points, or 0.1%, to 2,183.25, while Dow Jones Industrial Average futures YMU6, +0.16%  added 31 points, or 0.2%, to 18,554. Nasdaq-100 futures NQU6, +0.16% tacked on 8.50 points, or 0.2%, to 4,812.75.
“It’s looking a little quiet from an economic data standpoint, with [the] U.S. Empire State manufacturing index the only standout release,” said Craig Erlam, senior market analyst at Oanda, in a note.
On Friday, the S&P 500 SPX, -0.08%  and Dow DJIA, -0.20%  each closed slightly lower, but still finished with weekly gains for the second straight week, and just below their record closes hit Thursday. The Nasdaq Composite COMP, +0.09%  gained Friday, scoring a record close, and the tech-heaving index has advanced for seven weeks in a row.
Other markets: Oil futures CLU6, +0.13%  traded higher on hopes for a production freeze, helping sentiment. European stocks SXXP, +0.07% inched up, while Asian markets closed mostly higher, with Chinese stocks helped by renewed hopes for the launch of a Shenzhen-Hong Kong trading link. Gold futures GCQ6, +0.05% and a key dollar index DXY, -0.07% were little changed.
Economic news: The New York Federal Reserve is slated to release an index reading for its Empire State Manufacturing Survey at 8:30 a.m. Eastern Time. Economists polled by MarketWatch forecast 5.0 for August.
At 10 a.m. Eastern, investors are expected to get an August figure for a housing market index from the National Association of Home Builders. Economists see a reading of 59.
Check out: MarketWatch’s Economic Calendar
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Individual movers: Shares in Apple Inc. AAPL, +0.23%  could make moves Monday after a Washington Post report over the weekend indicated the iPhone maker isn’t likely to repatriate overseas assets. In the lengthy story, CEO Tim Cook was also quoted hinting at augmented-reality efforts and staying tight-lipped about a car project.
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