Stock futures climbed on Wednesday as durable goods showed their first increase in three months, while jobless claims unexpectedly declined.
S&P 500 futures were up 0.24%, Dow Jones Industrial Average futures added 0.22%, and Nasdaq futures gained 0.28%.
Durable-goods orders in the U.S. rose 3% in October after dropping 0.8% in September and 2.9% in August, the Commerce Department said on Wednesday. Analysts had expected durable goods to rise 2.1% last month. The better-than-expected reading was driven by demand for commercial airplanes.
The number of new claims for unemployment benefits unexpectedly fell by 12,000 to 260,000 in the past week, according to the Labor Department. The measure remains near 15-year lows. Analysts had expected jobless claims to tick up 1,000 to 272,000.
Consumer spending remained weak in October, though, the second consecutive month of tepid growth. Spending rose just 0.1% in October, one-third the result analysts had expected. Personal incomes climbed 0.4%, in line with estimates.
The economic calendar was busy Wednesday as releases were pushed forward to accommodate for Thursday's Thanksgiving holiday in the U.S.
Yahoo! (YHOO) shares dropped more than 1% in premarket trading after Standard & Poor's lowered its rating outlook on the Internet company to negative from stable. The ratings firm said weak revenue growth and decreasing competitiveness in Yahoo!'s advertising businesses had affected its decision.
Costco (COST) - Get Report joined Chipotle (CMG) - Get Report in an E.coli outbreak after the Centers for Disease Control and Prevention said that the retailer's rotisserie chicken salad had been linked to illnesses in seven states. Five people have been taken to the hospital, but no deaths have been reported. Chipotle has been ensconced in its own E.coli outbreak that has affected locations in six states.
Deere (DE) - Get Report jumped nearly 5% in premarket trading after cost cuts helped the company beat quarterly earnings estimates. The farm equipment manufacturer earned $1.08 a share, well above an expected 75 cents a share. However, the results were much weaker than a year earlier as the company faces weaker global demand for construction and farm equipment. Sales tumbled 25% to $6.72 billion.
HP Inc (HPQ) - Get Report , the newly standalone printing and personal computing business, fell more than 5% after reporting weak fourth-quarter sales. Revenue tumbled 15%, while earnings of 93 cents a share were on the weak side of a forecast range of 92 cents to 98 cents a share. Shares fell 7% before the bell.
Newly spun-off Hewlett-Packard Enterprise (HPE) - Get Report climbed 3% in premarket trading after forecasting better-than-expected fiscal 2016 results. The company expects full-year profit between 75 cents and 85 cents a share, above estimates of 74 cents. Shares climbed 4%.
Guess? (GES) - Get Report climbed more than 7% after reporting a surprisingly strong third quarter driven by strength in its European business. The retailer earned 15 cents a share, above expectations of 11 cents a share.