Russell 2000 ready to rise
The Russell 2000 (NYSE: IWM) futures are pointing up and the small-cap index will rise on news of strong September retail sales.
Retail sales for September increased 0.6%, the Commerce Department reported. That’s more than the projected 0.2% and a sign that the American consumer is alive and well. On Thursday retailers reported generally gloomy same-store sales for September.
Retail sales excluding motor vehicles and parts added 0.4%, outpacing analysts’ forecasts of 0.3%.
In other economic news, the U.S. Labor Department reported that producer prices for September increased 1.1%, the largest gain since February.
However, prices for goods excluding foods and energy, a key measure of core inflation, moved up just 0.1%. Core prices were projected to increase 0.2%.
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:
• Avigen Inc. (AVGN), up 12%.
• The Children's Place Retail Stores, Inc. (PLCE), up 11%.
• Verenium Corp. (VRNM), up 9%.
Biggest percentage losers:
• AgFeed Industries Inc. (FEED), down 13%.
• Thomas Group Inc. (TGIS), down 9%.
• Kosan Biosciences Inc. (KOSN), down 8%.
