* Futures up: Dow 26 pts, S&P 1 pt, Nasdaq 5.75 pts
By Yashaswini Swamynathan
Dec 9 U.S. stock index futures edged up on
Friday, indicating that investors were still eager to buy into
the post-election rally that has propelled a host of Wall Street
indexes to record highs.
* The "Trump rally" has been running for the past month as
investors bet President-elect Donald Trump's policies will boost
economic growth and inflation.
* The three main U.S. indexes closed at record levels for
the second day in a row on Thursday, while the small cap Russell
2000 and the Dow Transport hit all-time highs.
* Adding to the upbeat mood in the past weeks has been a
spate of robust economic data, including on monthly hiring
numbers, GDP growth and inflation, which have underscored the
* However, one spot of worry is valuations, with the S&P 500
is currently trading at about 17.5 times forward twelve-month
earnings, above the 10-year median of nearly 15 times, according
to Thomson Reuters StarMine.
* Data on tap for Friday is a preliminary reading of the
consumer sentiment index for December, which is expected to hit
94.5 after rising to a 6-month high the previous month. The
report is due at 10:00 a.m. ET (1500 GMT).
* The stock market rally's resilience will be put to test
after the Federal Reserve's policy meeting next week, where
traders see a 94 percent chance of the central bank raising
* Among stocks, those of Restoration Hardware plunged
18.5 percent to $31.76 in thin premarket trading after the
furniture retailer lowered its fourth-quarter profit forecast,
citing slow sales in the holiday period.
* Wynn Resorts rose 4.7 percent to $95 after
Macau, the world's biggest gambling hub, clarified it had not
tightened daily cash withdrawal limits for Chinese gamblers.
* Biogen rose 3.3 percent to $299 after a study
showed higher doses of the company's Alzheimer's drug appeared
to reduce the risk of brain swelling.
Futures snapshot at 7:04 a.m. ET:
* Dow e-minis were up 26 points, or 0.13 percent,
with 8,213 contracts changing hands.
* S&P 500 e-minis were up 1 point, or 0.04 percent,
with 75,283 contracts traded.
* Nasdaq 100 e-minis were up 5.75 points, or 0.12
percent, on volume of 8,599 contracts.
(Reporting by Yashaswini Swamynathan in Bengaluru; Editing by