Economy
In reply to the discussion: STOCK MARKET WATCH, Thursday, December 15, 2011 [View all]Pale Blue Dot
(16,834 posts)U.S. stock futures rose, indicating the Standard & Poors 500 Index (SPX) will snap a three-day slide, as investors awaited reports that may show manufacturing in the New York and Philadelphia regions expanded at a faster pace.
BioSante Pharmaceuticals Inc. (BPAX), the developer of hormone- replacement products, plunged 76 percent in early New York trading as its LibiGel compound failed to work in two large studies. Freeport-McMoRan Copper & Gold Inc. (FCX), the biggest publicly traded copper producer, fell 1 percent.
Futures on the S&P 500 expiring in March gained 0.4 percent to 1,211.1 at 10:34 a.m. in London. Dow Jones Industrial Average Index futures expiring the same month added 39 points, or 0.3 percent, to 11,801.
Todays a very important day in terms of data, said John Plassard, director at Louis Capital Markets in Geneva. Investors will carefully monitor two important numbers: the new jobless claims and the Feds manufacturing data. Americans know better than anyone else that confidence is the engine of growth. Good results today could help restore some of the much- needed confidence.
http://www.bloomberg.com/news/2011-12-15/u-s-stock-futures-rise-before-new-york-philadelphia-manufacturing-data.html