Stock futures flat on Greek deal impasse; data on tap
By Chuck Mikolajczak | November 21, 2012 11:21 PM EST
Stock index futures were little changed on Wednesday ahead of data on the labor market and consumer confidence even after international lenders were unable to come to a deal on emergency aid for Greece.
For the second consecutive week, euro zone finance ministers, the International Monetary Fund and the European Central Bank were unable to agree on how to make the country's debt sustainable, which is needed before the next cash infusion can be made to the fiscally beleaguered nation.
The FTSEurofirst 300 <.FTEU3> edged up 0.06 percent at 1,095.13.
Investors will also look to weekly initial jobless claims at 8:30 a.m. (1330 GMT) for signs of improvement in the labor market. Economists in a Reuters survey forecast a total of 410,000 new filings compared with 439,000 in the prior week.
At 8:58 a.m. (1358 GMT), information services company Markit releases U.S. flash Markit Manufacturing PMI for November, expected to show a reading of 51, a repeat of the October number.
The Thomson Reuters/University of Michigan Surveys of Consumers release final November consumer sentiment index is set for release at 9:55 a.m. (1455 GMT). Economists in a Reuters survey expect a reading of 84.5 compared with 84.9 in the final October report.
Shortly after at 10 a.m. (1500 GMT) the Conference Board releases its report on October leading economic indicators. Economists in a Reuters survey forecast a 0.2 percent rise compared with a 0.6 percent rise in September.
S&P 500 futures rose 1.5 points and were roughly even with fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures rose 6 points, and Nasdaq 100 futures added 2.5 points.
Volume is expected to be light ahead of the Thanksgiving Day holiday on Thursday.
The National Labor Relations Board (NLRB) said it is unlikely to make any decision before Thursday's Thanksgiving Holiday on Wal-Mart Stores Inc's
Business software provider Salesforce.com Inc
Children's book publisher Scholastic Corp
(Reporting by Chuck Mikolajczak)
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