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US STOCKS-Futures gain as China data points to growth
January 10, 2013 / 12:26 PM / 5 years ago

US STOCKS-Futures gain as China data points to growth

* Jobless claims, wholesale inventories data on tap

* Duke Realty shares fall after stock offering

* Futures up: Dow 25 pts, S&P 3.5 pts, Nasdaq 5 pts

NEW YORK, Jan 10 (Reuters) - U.S. stock index futures rose on Thursday, alongside other risk assets, as stronger-than-expected exports in the world’s second-biggest economy, China, raised hopes for a more robust recovery in the global economy this year.

* Data showed China’s export growth rebounded sharply to a seven-month high in December, a strong finish to the year after seven straight quarters of slowdown, even as demand from Europe and the United States remained subdued.

* Adding to the bullish sentiment, Spanish benchmark government bond yields fell below 5 percent to a 10-month low on the back of a strong bond auction that raised more than the target amount.

* S&P 500 futures rose 3.5 points and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures rose 25 points, and Nasdaq 100 futures added 5 points.

* Traders will also focus on the Labor Department release of first-time claims for jobless benefits for the latest week at 8:30 a.m. ET (1330 GMT). Economists in a Reuters survey forecast a total of 365,000 new filings compared with 372,000 in the prior week.

* The Commerce Department releases wholesale inventories for November at 10:00 a.m. ET (1500 GMT). Economists expect inventories to rise 0.3 percent, against a 0.6 percent increase in October.

* Shares of Duke Realty Corp fell 4 percent in premarket trading after the company announced late on Wednesday an offering of 30 million shares.

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