Russell 2000 futures rise cautiously
The Russell 2000 (NYSE: IWM) futures are higher and the small-cap index will likely open in positive territory.
Small-cap stocks are set for a bullish start to 2008 as investors await the Institute of Supply Management’s manufacturing index for December. Economists expect that the measure will show that growth has slowed from the preceding month.
Also grabbing the headlines is news on construction spending, which is also set to be released at 10 a.m. ET. That measure is expected to show a decline.
Looking toward the afternoon, investors will be waiting to see the minutes from the U.S. Federal Reserve’s meeting on Dec. 11, when the central bank decided to drop its target interest rate 0.25% to 4.25%. The minutes will be released at 2 p.m. ET.
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:
• Akeena Solar, Inc. (AKNS), up 42% on news it has licensed new solar technology.
• China Sunergy Co., Ltd. (CSUN), up 7%.
• Asiainfo Holdings, Inc. (ASIA), up 7%.
Biggest percentage losers:
• RadNet Inc. (RDNT), down 3%.
• LJ International Inc. (JADE) down 4%.
• China BAK Battery, Inc. (CBAK) down 3%.
