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UPDATE: U.S. stocks: Futures rebound ahead of spending data

UPDATE: U.S. stocks: Futures rebound ahead of spending data

08/29/2014

By Sara Sjolin, MarketWatch

LONDON (MarketWatch) -- U.S. stocks futures indicated a higher open on Wall Street on Friday, ahead of reports on consumer spending and confidence.

Futures for the Dow Jones Industrial Average (DJU4) added 31 points, or 0.2%, to 17,108, while those for the S&P 500 index (SPU4) climbed 4.50 points, or 0.2%, to 2,001.20. Futures for the Nasdaq 100 index (NDU4) put on 10.50 points, or 0.3%, to 4,080.25. All benchmarks were on track for monthly gains.

The rises came after a downbeat session on Thursday, when the S&P 500 retreated from 2,000 and halted its three-day winning streak after Kiev said Russian forces had entered Ukraine.

Data: Ahead of the open, personal-income and consumer-spending numbers are due, and both are expected to show a slowdown in growth in July. Personal income is forecast to have risen 0.3% last month, while consumer spending is expected to have inched 0.1% higher. The reports come out at 8:30 a.m. Eastern Time. Read: To maintain robust economic growth, consumers must spend more

At 9:45 a.m. Eastern Time, the Chicago purchasing managers index for August comes out. It's forecast to climb to 57.5, from 52.6 in July, by economists polled by MarketWatch.

Then, 10 minutes later, the Reuters/University of Michigan consumer sentiment index for August is slated to hit.

Earnings: Discount retailer Big Lots Inc. (BIG) reported better-than-expected second-quarter earnings, while revenue met expectations. Shares were down 1.1% ahead of the open.

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