* Final Q3 GDP reading, November home sales data on tap
* Crude edges lower after OPEC meeting
* Results due from Micron, Cintas
* Futures up: Dow 47 pts, S&P 5.9 pts, Nasdaq 10.75 pts
* For up-to-the-minute market news, click STXNEWS/US
(Adds quote, updates prices)
By Ryan Vlastelica
NEW YORK, Dec 22 (Reuters) - U.S. stock index futures were
higher on Tuesday, extending gains from the previous session,
as investors awaited a final reading on third-quarter economic
growth and existing home sales data.
Existing home sales are expected to post their third
straight monthly increase in November, a sign that the troubled
housing market could be stabilizing. Gross domestic product is
seen up 2.8 percent, according to a Reuters survey of
economists.
"There's a sense that GDP could be higher than consensus,
and that's helping futures," said Kim Caughey, senior equity
research analyst at Fort Pill Capital Group in Pittsburgh.
"GDP will be the go-to number to get reassurance that the
recession is truly over, while strong home sales will be
another sign that indicators are going the right way."
The Richmond Fed survey for December is also on tap, and
Micron Technology Inc <MU.N>, Cintas Corp <CTAS.O> and Red Hat
Inc <RHT.N> are all set to report quarterly results.
S&P 500 futures <SPc1> rose 5.9 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 <DJc1> gained 47
points, and Nasdaq 100 futures <NDc1> added 10.75 points.
Ford Motor Co <F.N> late Monday said it was offering
buyouts and early retirement to all of its 41,000 U.S. factory
workers, but did not provide a target number for how many would
take the offers. For details, see []
February crude futures slid 0.7 percent to $73.22 per
barrel after OPEC agreed to leave its production targets
unchanged, and ahead of the release of U.S. inventory data,
which is expected to show a fall in stockpiles. The U.S. dollar
index <.DXY> was little changed. []
The proposed merger Live Nation Inc <LYV.N> and
Ticketmaster Inc <TKTM.O> was given a boost after a British
regulatory body dropped objections and approved the deal.
[]
Overseas, Japan's Nikkei average <> rose 1.9 percent
to reach a three-month closing high as a weaker yen lifted
exporters. European stocks were broadly higher in Tuesday
morning trading, led by oil and banks shares.
U.S. stocks rallied in Monday's session, with the Nasdaq
hitting a 15-month high after brokerages upgraded two Dow
components on improved profit prospects. Healthcare stocks
advanced after a bill to overhaul the U.S. healthcare system
passed a crucial test in the U.S. Senate. The measure is
perceived as less damaging to industry profits than expected.
(Editing by Jeffrey Benkoe)
