Russell 2000 futures decline
The Russell 2000 (NYSE: IWM) futures are lower and the small-cap index will open in the red on news that U.S. durable goods orders unexpectedly declined in February.
Orders for durable goods fell 1.7% in February, the U.S. Census Bureau reported before the start of trading. Economists were expecting durable goods, which are goods expected to last at least three years, to increase 0.8% after falling a downwardly revised 4.7% in January.
Elsewhere in the same report, orders for nondefense capital goods excluding aircraft, an important measure of business spending, also declined.
The Russell 2000 had a relatively quiet session Tuesday, rising 3.99, or 0.57%, to 705.27. Look for resistance Wednesday at 712 and 724, while support comes in at 700, 694 and 686.
There could be mild volatility today. New Home Sales are released at 10:00 a.m. ET and could spark a little move outside of the norm.
Here are the biggest percentage gainers and losers in pre-market trading among companies with a market cap between $100 million and $750 million:
Biggest percentage gainers:
• Acacia Research-Acacia Technologies (ACTG), up 9% on news of a new licensing deal.
• China Sunergy Co., Ltd. (CSUN), up 6% on news that fourth-quarter net loss was not as wide as expected.
• Aehr Test Systems (AEHR), up 6% on news of a rise in third-quarter net income.
Biggest percentage losers:
• Charlotte Russe Holdings, Inc. (CHIC), down 10% on news third-quarter profit did not meet expectations.
• Voltaire Ltd. (VOLT), down 6%.
• Origin Agritech Ltd. (SEED), down 5% on news of a first-quarter loss.
Kevin Pendley contributed to this report.
