* Reports on retail sales, consumer sentiment on tap
* Boeing says 787 Dreamliner test flight may come Dec. 15
* Futures up: S&P 5.8 pts, Dow 53 pts, Nasdaq 7.5 pts
* For up-to-the-minute market news, click []
(Adds details, quote, byline, updates prices)
By Leah Schnurr
NEW YORK, Dec 11 (Reuters) - U.S. stock index futures rose
on Friday as investors awaited data that could provide a look
at the health of the consumer, including reports on retail
sales and consumer sentiment.
Boeing Co <BA.N> could be active after it said Thursday its
787 Dreamliner could start test-flying on Dec. 15 after falling
two years behind schedule. For details, see []
United Technologies Corp <UTX.N> could cheer investors
after the diversified manufacturer said it expects profits to
rise about 10 percent next year as heavy cost-cutting pays off.
[]
Focus will be the Commerce Department release of November
retail sales at 8:30 a.m. EST (1330 GMT), which will include
sales from the key Black Friday weekend. Economists in a
Reuters survey expect an 0.7 percent rise, compared with a 1.4
percent increase in October. Excluding automobiles, sales are
seen up 0.4 percent, compared with an 0.2 percent increase in
the month before.
The Reuters/University of Michigan Surveys of Consumers
December consumer sentiment index will be out at 9:55 a.m. EST
(1455 GMT). Wall Street looks for a preliminary December
reading of 68.5, compared with 67.4 in the final November
report.
"I believe consumption will improve from the disastrous
levels of last year, and we'll probably see a holiday shopper
that is a little more robust than what has been expected, given
the severity of the recession," said Jamie Cox, managing
partner of Harris Financial Group in Colonial Heights,
Virginia.
"It will lend a lot of credibility to the recovery if you
can see strong output from the consumer."
S&P 500 futures <SPc2> rose 5.8 points and were above fair
value, a formula that evaluates pricing by taking into account
interest rates, dividends and time to expiration on the
contract. Dow Jones industrial average futures <DJc2> gained 53
points, while Nasdaq 100 futures <NDc2> added 7.5 points.
Other data due Friday include import prices for November
and business inventories for October. Please see []
The top sovereign credit ratings of Britain and the United
States are not under threat of downgrade right now, but under a
worst-case scenario, a cut could come by 2013, Moody's
Investors Service. []
The comments eased jitters about sovereign credit risk that
cropped up this week after Standard & Poor's cut its sovereign
credit rating outlook for Spain and Fitch downgraded Greece's
debt rating.
Bank of New York Mellon Corp <BK.N> Chief Executive Robert
Kelly has resurfaced as a possible candidate to succeed
outgoing Bank of America Corp <BAC.N> CEO Kenneth Lewis, the
Wall Street Journal reported, citing sources. []
National Semiconductor Corp <NSM.N> forecast fiscal
third-quarter revenue would be roughly flat compared with the
second quarter's $345 million, while analysts expect $331
million and posted second-quarter results that beat estimates.
Its shares slid after the bell on worries about its ability to
regain market share. []
Stocks rose Thursday as signs of improving trends in the
job market and a decline in the U.S. October trade deficit
reassured investors the economy was on a steady growth path.
(Editing by Jeffrey Benkoe)
