US STOCKS-Wall St to climb at open after claims, spending data

Thu Jun 27, 2013 9:07am EDT
 
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* Initial claims dip, personal income and spending climb

* Fed Presidents Lockhart, Dudley to speak

* ConAgra rises in premarket after outlook

* Futures up: Dow 79 pts, S&P 10 pts, Nasdaq 14.75 pts

By Chuck Mikolajczak

NEW YORK, June 27 (Reuters) - U.S. stocks were poised for a higher open on Thursday, indicating the S&P 500 may climb for a third straight day, after data showed a decline in weekly jobless claims while consumer spending and incomes improved.

Initial claims for state unemployment benefits dropped 9,000 to a seasonally adjusted 346,000, roughly in line with expectations of 345,000 claims.

Consumer spending increased 0.3 percent last month after a revised 0.3 percent drop in April while incomes grew 0.5 percent, the largest gain since February.

The benchmark S&P 500 had dropped as much as 4.8 percent in the days following a June 19 statement from the U.S. Federal Reserve, when Chairman Ben Bernanke said growth was strong enough for the Fed to start slowing its stimulative bond purchases later this year.   Continued...