Skip to main content

NEW YORK (TheStreet) -- Premarket futures indicated a higher open for stocks in New York ahead of the latest data on the U.S. consumer as a round of earnings reports boosted Wall Street's confidence.

Futures for the

S&P 500

up 5.2 points, at 1034.5, and were 4.37 points above fair value. Futures for the

Nasdaq

edged up 7 points, to 1646, and were 4.91 points atop fair value.

Stocks eked out gains Thursday after a rocky start as stocks initially fell despite a less severe decline than expected in production. All three major indices were positive for the week heading into Friday's session, which should bring a more current picture of the U.S. consumer.

July personal income and spending data are due out at 8:30 a.m. EDT, to be followed by the revised August consumer sentiment reading from the University of Michigan. Expectations are for a slight improvement in income and sentiment, but also a lesser increase in spending compared to June.

Meanwhile, earnings late Thursday and early Friday helped reinvigorate the bulls.

Dell

(DELL)

, which accidentally released its results early on its Web site,

topped expectations

. Chipmaker

Marvell

(MRVL)

also

blew past

analysts' estimates, despite taking a revenue and profit hit.

Outside of the tech space,

J. Crew

( JCG) and Paris-based

L'Oreal

(OR)

also posted

better-than-expected profits for the recent quarter and first six months in 2009, respectively, and estimated that sales will continue to improve.

In other news,

China Unicom

(CHU)

said Friday

it reached a three-year agreement to sell

Apple's

(AAPL)

iPhone in China, the world's largest mobile phone market.

Stocks overseas were mixed to lower. In Europe, London's FTSE 100 and the DAX in Frankfurt were rising 1% and 1.3%, respectively. In Asia, the Nikkei in Japan rose 0.6%, and the Hang Seng in Hong Kong edged down 0.7%.

Crude oil futures were rising 73 cents to $73.22 a barrel, while gold was adding $4.60, to $951.90.

-- Written by Elizabeth Trotta in New York.