1. Stock Futures Rise After Record Highs for Wall Street
Stock futures rose Friday and shares in Asia traded higher after data showed soaring growth for China’s economy in the first quarter.
Contracts linked to the Dow Jones Industrial Average rose 48 points, S&P 500 futures gained 4 points and futures on the tech-heavy Nasdaq were up 2 points.
The Dow closed at a record high of 34,035 on Thursday and the S&P 500 reached an all-time high after U.S. retail sales and jobless claims and solid earnings reports pointed to a recovering domestic economy. Stellar jobless claims plus off the charts retail sales packs a positive one-two punch and sends strong signals that the economy is full steam ahead toward recovery, said Mike Loewengart, managing director of investment strategy at E Trade. While we haven’t necessarily seen the market move on strong economic beats or misses, it’s certainly a step in the right direction. And with earnings season off to a solid start, the c
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