Stock Futures Poised to Book Silent 2013 Finish
NEW YORK (TheStreet) -- U.S. stock futures were pointing to a second-consecutive flat opening as the final trading day of 2013 looked to hold to the strongest return on the S&P 500 since 1997.
The S&P Case-Shiller home price index is set to release at 9 a.m. ET, which will give market participants an idea of how the value of real estate across 20 metropolitan U.S. areas shifted in October. The Institute for Supply Management is expected to report business conditions in December for the Chicago area at 9:45 a.m. ET, and the Conference Board will report December consumer confidence at 10 a.m. ET.
The S&P 500 has risen 29% in 2013, and with light volumes expected to conclude the final trading day, this could be the level where the equity index settles for the year.In company news, Netflix (NFLX) revealed late Monday that CEO Reed Hastings received $5.3 million from selling stock right after Christmas, according to a filing with the Securities and Exchange Commission. The company also announced its so-called poison pill -- a plan to make activist shareholder takeovers more expensive -- would end Tuesday, which was two years ahead of schedule.
Hertz (HTZ) was popping premarket after it adopted a one-year shareholder rights plan to prevent outside investors from gaining control of the car rental company. Shares were jumping 4.3% to $27.02.
Shares of Phillips 66 (PSX) were gaining ahead of the regular trading session after Berkshire Hathaway (BRK.B) said it would swap $1.4 billion of shares in the energy company to fully acquire its pipeline services arm. Shares were lifting 1% to $75.50. -- Written by Joe Deaux in New York. >Contact by Email. Follow @JoeDeaux
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