US STOCKS-Wall St to open higher after positive economic data

Fri Feb 8, 2013 9:15am EST
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

* China, German data positive

* U.S. trade deficit shrinks

* LinkedIn surges after earnings, outlook

* Futures up: Dow 6 pts, S&P 1.8 pts, Nasdaq 9.5 pts

By Chuck Mikolajczak

NEW YORK, Feb 8 (Reuters) - U.S. stock index were set for a slightly higher open on Friday after a trio of positive economic data points, but gains were expected to be modest, with the benchmark S&P index near five-year highs.

Data showed Chinese exports grew more than expected in January, while imports climbed 28.8 percent, highlighting robust domestic demand, while German data showed a 2012 surplus that was the nation's second highest in more than 60 years, an indication of the underlying strength of Europe's biggest economy.

Another positive sign was U.S. economic data which showed the trade deficit shrank in December to $38.5 billion, its narrowest in nearly three years, indicating the economy did much better in the fourth quarter than initially estimated.

Comments from European Central Bank President Mario Draghi about the strength of the euro Thursday renewed concern about the euro zone economy and sent U.S. equities lower.   Continued...