Market Hustle: Futures Turn Higher After Import Prices; Campbell Soup Rises
NEW YORK (TheStreet) -- Stock futures were turning higher Friday as investors awaited industrial output and consumer confidence numbers, and after higher-than-expected import price figures.
The S&P 500 is now up 5.1% after sinking to a three-month low on Feb. 3, and is poised for a second week of gains after Federal Reserve Chairwoman Janet Yellen indicated the central bank's stimulus tapering plans will stay the course.
- S&P 500 futures were up 1.75 points, or 0.38 points below fair value, to 1,826 on Friday. Dow Jones Industrial Average futures were up 17 points, or 1.59 points below fair value, to 15,996. Nasdaq futures were up 6.3 points, or 1.09 points above fair value, to 3,657.3.
- January industrial production numbers will be released at 9:15 a.m. EST. Economists, on average, are expecting an increase of 0.3% in January after a 0.3% rise in December. The market will find out if weather disruptions affected industrial output last month.
- The February Reuters/University of Michigan's consumer sentiment index is due at 9:55 a.m. and is expected to show another month of softer data.
- Import prices rose by a slightly more-than-expected 0.1% in January after an upwardly revised 0.2% in December, according to the Bureau of Labor Statistics.
- Campbell Soup (CPB) was gaining 3.73% to $42.50 after topping quarterly earnings expectations by 3 cents at 76 cents a share. J.M. Smucker (SJM) was dropping 5.46% to $89.95 after earnings of $1.66 a share came in below expectations.
- Twitter (TWTR) was adding 1.38% to $57.25 ahead of its first lockup expiration of 9.9 million shares on Saturday.
- Jos. A. Bank Clothiers (JOSB) was down 4.22% to $52.60 after its announcement that the company is acquiring Eddie Bauer for $825 million.
--- Written by Andrea Tse in New York
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