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US futures head higher; economists see some growth
Posted: May 21, 2012 5:31 AM by Associated Press
NEW YORK (AP) - Stock futures are rising with a new survey suggesting that economists are a bit more optimistic about housing and employment.
Dow Jones industrial average futures are up 64 points at 12,399. Standard & Poor's 500 index futures are up 7.7 points to 1,298.5. Nasdaq composite index futures are up 16 points to 2,484.25.
The National Association for Business Economists released a report Monday that showed its forecasters expect modest growth for the remainder of the year, with the pace picking up in 2013.
However, economists are hedging somewhat. The 54 who took part in the survey say consumer spending, business investment and gross domestic product will remain below historic norms.
Shares of Lowe's Cos. are tumbling in premarket trading on a tepid outlook for the home improvement retailer. Facebook Inc. shares are also falling in premarket dealings.
(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
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