National News

Mar 28, 2014 9:43 AM by Associated Press

Futures rising as consumer spending inches higher

U.S. stock futures are creeping higher as new evidence of stronger consumer spending emerges.

KEEPING SCORE: Dow Jones industrial average futures are up 25 points, or 0.2 percent, to 16,207.00. Standard & Poor's 500 index futures are up four points, or 0.2 percent, to 1,844.60. Nasdaq futures are up 12 points, or 0.3 percent, to 3,566.50.

GUESS WHO?: Shares in BlackBerry Ltd. rose more than percent before the start of regular trading Friday after the company reported quarterly results that were better than expected. Sales fell below $1 billion for the first time since 2007, but the company's loss was not as wide as feared as new CEO John Chen molds the company into something new.

SPENDING: The Commerce Department is reporting that Americans spent slightly more in February. Consumer spending inched up 0.3 percent, a hair short of economists' forecasts. Income rose at the same pace.

EUROPE: Major markets in Europe made slight gains. Germany's DAX rose 0.9 percent. France's CAC 40 gained 0.3 percent. Britain's FTSE 100 inched up 0.1 percent.

ASIA: Japan's Nikkei gained 0.5 percent while Hong Kong's Hang Seng added 1.3 percent. On mainland China, the Shanghai Composite slipped 0.2 percent.

OTHER MARKETS: The yield on the 10-year Treasury note hovered around 2.69 percent, where it was trading late Thursday. The price of crude oil edged up 25 cents, or 0.3 percent, to $101.53 a barrel. Gold is down $6, or 0.5 percent, to $1,288.70 an ounce.

(Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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