U.S. stock-index futures rose, indicating benchmark indexes will extend all-time highs, as data showed the economy expanded more than previously forecast in the third quarter.
Futures on the Standard & Poor’s 500 Index (SPX) added 0.2 percent to 2,071.90 at 8:31 a.m. in New York.
Gross domestic product, the value of all goods and services produced, rose at a 3.9 percent annualized rate, up from an initial estimate of 3.5 percent, Commerce Department figures showed today in Washington. The median forecast of 81 economists surveyed by Bloomberg called for a 3.3 percent gain. After the 4.6 percent increase in the second quarter, it marked the biggest back-to-back advance since late 2003.
A Conference Board release at 10 a.m. in New York will probably show consumer confidence extended a seven-year high in November.
The S&P 500 has rallied 11 percent from its low last month as data signaled the U.S. economy is improving, European Central Bank President Mario Draghi pledged to raise inflation as fast as possible, and China unexpectedly cut interest rates.
Hewlett-Packard Co. and Tiffany & Co. (TIF) are among S&P 500 companies reporting earnings today. Of those members that have already reported, 79 percent have beaten earnings projections while 60 percent have beaten sales estimates, according to data compiled by Bloomberg.
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