US Futures Gain as Home Prices Top Views; Sunglasses Maker Luxottica Strikes Google Deal

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US stock futures were set for a higher open Tuesday after home prices gained more than expected in January from December and ahead of data on consumer confidence.

At 09:00 a.m January FHFA House Price Index rose 0.5% from December, slightly ahead of the 0.4% consensus from economists polled by Bloomberg. The December gain was revised down to 0.7% from 0.8%, Also out at 09:00 a.m., the S&P Case-Shiller Home Price Index rose 13.2% from a year ago compared to the 13.3% consensus and compared to the 13.4% year-on-year increase in December. At 10:00 a.m. data are expected to show 440,000 New Home Sales in February, down from 468,000 in January.

Also out at 10:00 a.m., the March consumer confidence index is seen gaining to 78.4 from 78.1 in February.

In equities, Walt Disney Company ( DIS ) edged higher 1.1% in recent pre-market trade after striking a deal to buy Maker Studies, a network of online video content on YouTube, for $500 million, plus $450 million if performance targets are met. Sunglass-maker Luxottica ( LUX ) gained 3.7% after teaming up with Google ( GOOG ) to develop wearable devices. GOOG added 0.7%.

U.S. PRE-MARKET INDICATORS

-Dow Jones Industrial up 0.52%

-S&P 500 futures up 0.46%

-Nasdaq 100 futures up 0.43%

-Nasdaq-100 Pre-Market Indicator up 0.41%

GLOBAL SENTIMENT

Nikkei down 0.36%

Hang Seng down 0.52%

Shanghai Composite down 0.10%

FTSE-100 up 1.14%

DAX-30 up 1.60%

PRE-MARKET SECTOR WATCH

(+) Large cap tech: higher

(+) Chip stocks: unchanged to higher

(+) Software stocks: higher

(+) Hardware stocks: higher

(+) Internet stocks: higher

(+) Drug stocks: higher

(+/-) Financial stocks: mixed

(+) Retail stocks: higher

(+) Industrial stocks: unchanged to higher

(+) Airlines: unchanged to higher

(+) Autos: higher

UPSIDE MOVERS

(+) ECYT (+7.5%) Chardan more than doubles price target to $43

(+) WAG (+2.1%) Fiscal Q2 sales top views; earnings slightly shy

(+) SONC (+7.2%) Fiscal Q2 earnings beat forecasts

(+) HALO (+5.5%) Cellulite treatment trial meets primary endpoint

(+) CCIH (+10.3%) Forms partnership with China Telecom

(+) AFOP (+4.3%) Needham initiates at buy with $22 price target

(+) RAX (+4.3%) Morgan Stanley upgrades to overweight from equalweight

(+) SOL (+3.9%) Roth upgrades to buy, ups price target by $1.20



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: DIS , LUX , GOOG

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