Futures Flat as Market Eyes Home Sales That Could Support Fed Curbing Asset Buys

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U.S. stock futures were nearly unchanged on Friday after almost half the market suffered a trading halt for the better part of the afternoon yesterday.

After a week of uncertainty about the U.S. Federal Reserve's plans for when and how to slow down asset purchases, the minutes of their July meeting offered little clarity.

Future data points that give indications of the robustness of economic recovery may have greater impact on the Fed's timeline for tapering and on stock movements. Today, a report out at 10 a.m. may show that new-house sales declined in July to 487,000 from 497,000 the month prior, but still coming in at a 5-year high. On Wednesday, existing home sales showed a 13.7% increase in home prices.

Today on CNBC Atlanta Fed President Dennis Lockhart mentioned September as a possible start to Fed tapering, with the condition that the data supports it.

Major movers in pre-market trading included Renren ( RENN ), rising 14% after a Baidu Holdings unit agreed to buy a 59% stake in the company for $160 million in cash. Aeropostale ( ARO ) touched a fresh 52-week low, and was down 13% after saying sales will be weaker-than-expected this year.

U.S. PRE-MARKET INDICATORS

-Dow Jones Industrial up 0.03%

-S&P 500 futures up 0.09%

-Nasdaq 100 futures up 0.10%

-Nasdaq-100 Pre-Market Indicator down 0.10%

GLOBAL SENTIMENT

Nikkei up 2.21%

Hang Seng down 0.15%

Shanghai Composite down 0.47%

FTSE-100 up 0.53%

DAX-30 up 0.20%

PRE-MARKET SECTOR WATCH

(+) Large cap tech: higher

(+) Chip stocks: higher

(+) Software stocks: higher

(+) Hardware stocks: higher

(+) Internet stocks: higher

(+/-) Drug stocks: mixed

(+/-) Financial stocks: mixed

(+/-) Retail stocks: mixed

(+) Industrial stocks: higher

(+/) Airlines: even

(+/-) Autos: even

UPSIDE MOVERS

(+) EXPE (+6.07%) Signed long-term strategic marketing deal with Travelocity

(+) ADSK (+6.31%) Reported better-than-expected results but Q3 missed estimates

(+) ANN (+2.97%) Q2 EPS topped consensus and upped its FY sales guidance

DOWNSIDE MOVERS

(-) DLLR (-21.38%) Reversing after-hours gains after Q4 sales missed consensus

(-) HIBB (-8.50%) Lowered its FY guidance on economic uncertainties

(-) P (-6.59%) Q3 EPS guidance misses views



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


This article appears in: Investing , Commodities

Referenced Stocks: ARO , RENN

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