By Sara Sjolin, MarketWatch
Zynga slides premarket after earnings
LONDON (MarketWatch) -- U.S. stocks were poised for another
upbeat trading day on Friday, with stock futures mirroring gains in
Europe and Asia, with consumer sentiment and import-price data on
tap to give clues to the health of the U.S. economy.
Futures for the S&P 500 index (SPH5) added 4.20 points, or
0.2%, to 2,088.30, indicating that the benchmark could nudge a
record close. The index on Thursday closed just 0.1% shy of its
all-time closing high of 2,090.57 hit in late December, after a
solid session on Wall Street fueled by a cease-fire agreement
between Russia and Ukraine and a pickup in oil prices and merger
news.
Futures for the Dow Jones Industrial Average (DJH5) added 42
points, or 0.2%, to 17,974 on Friday, while those for the Nasdaq
100 index (NDH5) climbed 13.50 points, or 0.3%, to 4,358.25. The
Nasdaq ended at its highest level since 2000 on Thursday.
Data: After a data-heavy Thursday, Friday brings only the
import-price index, due at 8:30 a.m. Eastern Time, followed by
consumer sentiment at 9:55 a.m. Eastern.
Analysts at Société Générale said they expect import prices to
have dropped 3.7% in January, which would mark the largest decline
in six years. The slide in foreign petroleum costs, lower metals
prices and the impact of a stronger dollar all weaken import
prices, they said.
For consumer sentiment, economists polled by MarketWatch see a
slight improvement to 98.5 in February, from 98.1 in January.
Investors will also be looking for the weekly Baker Hughes (BHI)
rig-count data for any clues to whether oil production in the U.S.
is slowing down. Oil futures (CLH5) were up 1.7%.
Getting set to retire, Dallas Fed President Richard Fisher will
give a speech reflecting on his Fed career at 1:30 p.m. Eastern
Time.
Earnings: Reporting ahead of the bell, food company J.M. Smucker
Co.(SJM) is expected to post earnings of $1.51 a share on sales of
$1.47 billion.
Interpublic Group of Cos.(IPG) is expected to report earnings of
58 cents a share on sales of $2.2 billion, according to a survey of
analysts by FactSet.
Movers and shakers: Zynga Inc. (ZNGA) slumped 13% premarket
after the games-maker said late Thursday its fourth-quarter loss
widened to $45.1 million, or 5 cents a share, from a loss of $25.2
million, or 3 cents a share, in the year-earlier period.
Groupon Inc. (GRPN) fell 2.1% ahead of the bell after the online
deal company on Thursday issued a weak outlook.
American International Group Inc. (AIG) could be active after
its fourth-quarter earnings fell short of estimates.
CBS Corp. (CBS) could also attract attention after it said late
Thursday its fourth-quarter profit fell to $413 million, or 79
cents a share, from $470 million, or 76 cents a share, for the same
period a year ago, but revenue rose to $3.68 billion from $3.57
billion.
CyberArk Software Ltd. (CYBR) rallied 17% in premarket action
after a solid fourth-quarter report released late Thursday.
Other markets: European stock markets posted solid gains after
better-than-expected fourth-quarter economic growth numbers, and as
Greece and its creditors showed signs of warming up to each other
in the deadlock over debt payments.
Asian markets closed mostly higher, with the Hong Kong market
posting its biggest gain in three weeks.
Metals (GCG5) were on the rise, while the dollar (DXY) traded
mixed against other major currencies.
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