Wednesday, June 26, 2013

Stock futures rise to keep Tuesday momentum on sturdy data

(Reuters) - Thankfully the Stock futures rose on Wednesday, it indicates that the S&P 500 may build on its biggest gain in nearly two weeks on Tuesday, on the back of stronger-than-expected economic data.

The S&P 500 . SPX rose nearly 1 percent Tuesday, its most since June 13, as data on durable goods orders, sales of new homes and consumer confidence all topped analysts' expectations and the People's Bank of China eased concerns about a possible banking crisis in the world's second-largest economy.

Still, the benchmark S&P index remains down 3.9 percent since the Fed signaled last week that it may begin to rein in its stimulus efforts should its economic forecasts hold.

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