Russell 2000 futures higher
The Russell 2000 (NYSE: IWM) futures have moved up and the small-cap index is likely to open in positive territory.
The bulls are ready to go on speculation that the U.S. Federal Reserve will cut its target interest rate when it meets in December. The speculation is due to a speech by chairman Ben Bernanke after the close on Thursday, during which he said that uncertainty has increased and the Fed must remain alert.
In economic news, the U.S. Commerce Department reported that consumption increased 0.2% in October, below the rate projected by economists. Consumption added 0.3% in September.
The lackluster performance can be blamed on a slowdown in the labor market, higher energy prices and the seemingly never ending slump in the housing sector.
Investors will also be looking at data on October construction spending, which will be released by the U.S. Census Bureau at 10 a.m. ET. Economists are expecting to see a decline.
Here are the biggest percentage gainers and losers in pre-market trading among companies with a market cap between $100 million and $750 million:
• SeaChange International Inc. (SEAC), up 25% on news it swung to a third-quarter profit.
• Triad Guaranty Inc. (TGIC), up 18%.
• China Finance Online Co. Ltd. (JRJC), up 12%.
• i2 Technologies, Inc. (ITWO), down 15%.
• Pacific Ethanol, Inc. (PEIX) down 5%.
• DivX Inc. (DIVX) down 4%.
