US Futures Rebound Ahead of Thanksgiving

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US stock futures rallied on Wednesday as traders looked ahead to a raft of readings on the US economy before the Thanksgiving holiday. Markets are closed Thursday for the holiday.

Oil prices nudged higher with global benchmark Brent Crude up 1.90%, while US crude West Texas Intermediate was up 2.13% recently after industry data showed a surprise decline in US commercial crude inventories.

At 8:30 am, data are expected to show new durable goods orders easing 2.5% in October following a minimal 0.8% gain in the previous month. Forecasters see a little change in new unemployment claims for the Nov. 17 week at a consensus of 215,000 vs 216,000 in the previous week, according to data compiled by Econoday.

At 10 am, the consumer sentiment index is expected to come in at 98.3. The October consensus for existing home sales is at 5.210 million annualized rate vs September's 5.150 million. The October consensus for the index of leading economic indicators is a slight gain of 0.1% vs 0.5% gain in September.

In equities, shares of Synthetic Biologics ( SYN ) were trading 25.5% higher pre-bell after the company completed an end of phase 2 meeting with the US Food and Drug Administration on its clostridium difficile preventive drug.

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This article appears in: Investing , Stocks
Referenced Symbols: SYN

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