Sunday, June 24, 2012

Futures Perk Up as Bulls Rush into the Quarter’s End

Stock futures rose early on Friday as the first quarter comes to an end today. European stocks were broadly higher after a very weak day Thursday on renewed concerns about sovereign and bank debt. Some potentially troubling U.S. data failed to cool the market’s rise. Personal spending rose 0.8% and income rose 0.2% in February, a mixed result that also showed Americans have reduced their personal savings rates.

Dow futures rose 52 points to 13,130; S&P 500 futures rose 5.9 points to 1,404.1.

Research in Motion (RIMM) rose 1.2% in pre-market trading after missing fourth quarter earnings expectations late on Thursday and announcing it was exploring partnerships and other strategic options. The stock had fallen hard in after-hours trading on Thursday.

Footwear company Finish Line (FINL) fell 7% after issuing weak guidance.

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