Stock Futures Extend 'Santa Claus' Rally
NEW YORK ( TheStreet) -- Santa has come and gone but the market is continuing to rally, extending record gains achieved on Tuesday.
- Futures for the S&P 500 were gaining on Thursday, up 0.47% to 1,831.7. The Dow Jones Industrial Average were adding 0.28% to 16,348 and Nasdaq futures were up 0.35% to 3,576.
- Global markets shared in the continued upward march of equity markets with the FTSE 100 gaining 0.23%, France's CAC 40 adding 0.07% and Germany's DAX up 0.94%.
- No major U.S. economic releases are due over the shortened holiday week.
- Weekly jobless claims are expected for release 8:30am EDT.
- On Tuesday, the U.S. Census Bureau reported a 3.5% rise in durable-goods orders over November, adding to the U.S. market's levity.
- Shipping company UPS said it was inundated with a high volume of packages over Christmas, causing many to miss their intended arrival date. As compensation, Amazon (AMZN) offered affected customers refunds and $20 gift vouchers.
- BP (BP) is likely to move lower on Thursday after a U.S. federal judge dismissed the oil giant's claims to recover money lost during the 2010 Gulf of Mexico oil spill.
- According to Reuters sources, Japan's SoftBank is contemplating a possible acquisition of T-Mobile (TMUS) and is currently discussing funding with several banks. In pre-market trading, T-Mobile has surged 12.6% to $36.25.
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