US futures move higher; record in sight for Dow
US stock futures edge higher ahead of economic growth report; Dow Jones nears all-time record
Traders work on the floor at the New York Stock Exchange in New York, Wednesday, Feb. 27, 2013. Stocks surged for a second day, putting the Dow on track for its highest close of the year. (AP Photo/Seth Wenig)
NEW YORK (AP) -- U.S. stock futures are moving higher with new data expected to illustrate buoyant spending by consumers and businesses.
A report from the Commerce Department on Thursday should reverse earlier estimates that suggested the economy shrank in the fourth quarter.
Dow Jones industrial futures are up 16 points to 14,076. S&P futures have added 2.7 points to 1,518.50. Nasdaq futures are up 5.25 points to 2,745.75.
The Dow is within striking distance of its all-time high, reached in October 2007, after two days of gains more than erased a 216-point stumble Monday.
Retailers will roll out more earnings after a disastrous year for J. C. Penney concluded with a $985 million loss for 2012. Company shares are down 16 percent.
Sears reported a smaller loss Thursday. Its shares rose 3 percent in premarket trading.
