(MENAFN- ProactiveInvestors) U.S. stock futures edged up today in the last trading day of the year with the Dow industrials on track to post their sixth consecutive year of gains.
Contracts on the Standard & Poor’s 500 Index expiring in March rose 0.1 percent to 2079.6 by 8:33 a.m. in New York and those on the Dow Jones Industrial Average gained 18 points or 0.1 percent to 17959. Nasdaq 100 Index futures were up 0.1 percent today.
U.S. equity markets will be shut tomorrow for the New Year’s Day holiday.
U.S. stocks closed lower yesterday. The S&P 500 (INDEXSP:.INX) fell 0.5 percent to 2080.35. The 30-company Dow Jones Industrial Average (INDEXDJX:.DJI) fell 0.3 percent to 17983.07 while the tech-heavy Nasdaq Composite (INDEXNASDAQ:.IXIC) dropped 0.6 percent to 4777.44.
The S&P 500 closed at a record on Dec. 29 for the 53rd time this year as $1.1 trillion was added to American share values.
For December the Dow is up 0.9 percent the S&P is up 0.6 percent and the Nasdaq is down 0.3 percent.
For the fourth quarter the Dow has gained 5.5 percent the S&P has added 5.5 percent and the Nasdaq has jumped 6.3 percent. Both the S&P and Nasdaq are on track for their eighth straight quarterly gain the longest for the S&P since 1998 and the longest for the Nasdaq since 1996.
The Dow is heading for its sixth annual rally while the Nasdaq Composite Index surpassed 18000 for the first time last week.
Eight of the 10 major groups in the S&P 500 have advanced this year. Utility shares jumped 27 percent the largest advance while a slump in oil prices has sent a gauge of energy companies down 9.3 percent this year the most since 2008.
Stock markets were closed in some countries including Germany and Japan. The Stoxx Europe 600 index rebounded from a prior-day fall up 0.4 percent. In Asia the Shanghai Composite Index rose 2.2 percent and notched a yearly gain of 53 percent.
In economic data jobless claims rose by 17000 to 298000 in the week ended Dec. 27 from a revised 281000 in the prior period a Labor Department report showed today in Washington. Economists called for 290000 on average according to Bloomberg. Typical year-end holiday swings can make the data difficult to interpret.
After the market opens there will be a read on pending home sales for November and the December Chicago Purchasing Managers Index. Home sales are seen up 0.5 percent while the Chicago PMI index is expected to dip modestly.
In commodity markets crude-oil futures declined 2.5 percent to $52.76 a barrel. Gold futures lost 0.2 percent to $1198.00 an ounce.
Meadowbrook Insurance Group (NYSE:MIG) jumped 18 percent to $8.42 in premarket trades after China’s Fosun International agreed to buy the U.S. insurer for $433 million.
MiMedx Group (NASDAQ:MDXG) climbed 4.2 percent to $11.09 after it said it plans to exceed the upper end of its revenue guidance for the fourth quarter and full year 2014.
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