U.S. stock-index futures climbed, after equities posted their biggest weekly gain since October, amid recovering oil prices.
Futures on the Standard & Poor’s 500 expiring this month added 0.2 percent to 2,071.1 at 10:43 a.m. in London, after earlier rising as much as 0.4 percent. A rebound in energy shares sent the equity gauge up 3.4 percent last week, closing 0.2 percent from a record. Dow Jones Industrial Average contracts gained 55 points, or 0.3 percent, to 17,816, today.
U.S. equities jumped 5 percent in the past three sessions, as Chair Janet Yellen said the central bank will likely hold key rates near zero at least through the first quarter, even as the U.S. economy strengthens. The gauge erased its loss for the month and closed 5 points below a record of 2,075.37 reached Dec. 5. The S&P 500 has advanced in each of the past six Decembers.
Data today will show existing-home sales in the U.S. slipped to 5.20 million in November from 5.26 million in October, according to economists’ forecasts.
Oil climbed for a second day as hedge funds increased bets on rising prices to the highest in four months. Saudi Arabia said it was confident that crude will rebound as world economic growth boosts demand.
Source : Bloomberg