US futures up, helped by strong retail report

NEW YORK (AP) ? Strong February retail sales results helped lift U.S. stock market futures Tuesday.

The Commerce Department said retail sales rose 1.1 percent last month, the biggest gain in five months, providing evidence that a stronger job market is helping to boost the economy.

Some of the gain reflected higher gas prices, but consumers also bought more cars, clothes and appliances. Department stores had their biggest gains in more than a year.

The results supported gains ahead of the stock market opening. Dow Jones industrial average futures added 48 points to 12,945. Premarket gains don't necessarily predict the way the market will move once it's open. The Dow has risen for the past four consecutive sessions, only the second time that has happened so far this year. The increase offset last week's decline as concerns about the Greek debt deal mounted.

Standard & Poor's 500 futures added 5.2 points to 1,372 on Tuesday. Nasdaq 100 futures gained 10 to 2,657.

Even before the release of the February retail figures, U.S. futures were following world markets higher. International traders were looking for positive reports on retail sales and indications of confidence from the Federal Reserve, which meets Tuesday.

In Europe, the FTSE 100 index of leading British shares rose 0.09 percent, while Germany's DAX added 1.05 percent. The CAC-40 in France added more than 1.14 percent.

The major indexes in Asia also posted gains.

U.S. stocks to watch include Yahoo Inc., which on Monday filed suit against Facebook, claiming infringement of 10 of its patents covering advertising, privacy controls and social networking. Yahoo shares rose marginally in premarket trading.

Pharmacy benefits managers Express Scripts Inc. and competitor Medco Health Solutions Inc. both saw modest premarket gains after putting their planned $29.1 billion combination on hold in order to give antitrust regulators more time to finish evaluating the deal.

And Great Wolf Resorts Inc. soared in premarket trading after the Madison, Wis.-based water park operator said it would sell itself to Apollo Global Management for about $167 million.

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Source: http://news.yahoo.com/us-futures-helped-strong-retail-report-124959458.html

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