Markets

US Stock Futures Rise as Oil Comes Off Lows, Europe Rallies

U.S. equities futures extended Tuesday's gains in thin pre-Christmas trade on Wednesday, lifted by a rally in European stocks and helped by slight gains in oil prices that lifted commodities stocks.

West Texas Intermediate and Brent Crude for delivery in February were both higher 1.4% recently.

At 8:30 a.m. E.T, data are expected to show that durable goods orders slipped 0.5% in November compared to a 3.0% gain in October. The consensus range is between a 1.7% decline and a 1.1% increase, according to data compiled by Econoday.

At 10:00 a.m., new home sales for November are seen edging up to 503,000 from 495,000 in October. The consensus range is between 479,000 and 531,000.

Meanwhile, the University of Michigan's consumer sentiment index is seen edging up to 92.0 for December from 91.8 in November. The consensus range is between 90.5 and 93.4.

Equities rose across all sectors Wednesday. Bucking that trend was Cablevision Systems ( CVC ), down nearly 2% after the Wall Street Journal reported that Altice NV's $10 billion deal to buy the company is running into trouble with New York City regulators.

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

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