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 The Commerce Department's report, due an hour before the opening bell, is crucial for investors eager to learn how retailers and, in turn, consumers are faring. Consumer spending accounts for more than two-thirds of U.S. economic activity and played a large part in driving the economic expansion of recent years.
Individual retailers have already reported disappointing January sales following a lackluster holiday season as consumers pulled back in response to rising fuel prices, a faltering real estate sector and a choppy stock market. Investors want to see if the government's broader sales figures show a further retrenchment by consumers girding for further economic hardship.
Stocks have mostly logged gains in recent sessions as investors have tried to determine whether the worst of Wall Street's recent weakness has past or whether further sluggishness in the economy will send stocks lower. While stocks mainly rose so far this week, Wall Street logged sharp losses last week.
Early Wednesday, Dow Jones industrial average futures rose 17, or 0.14 percent, to 12,403. Standard & Poor's 500 index futures rose 1.90, or 0.14 percent, to 1,351.50, and the Nasdaq 100 futures rose 8.50, or 0.47 percent, to 1,798.50.
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 Bond prices showed little movement ahead of the retail sales report. The yield on the benchmark 10-year Treasury note, which moves opposite its price, stood flat at 3.67 percent, compared with late Tuesday. The dollar was mixed against other major currencies.
Light, sweet crude oil rose 19 cents to $92.97 per barrel in premarket electronic trading on the New York Mercantile Exchange.
Overseas, Japan's Nikkei stock average closed up 0.16 percent. In morning trading, Britain's FTSE 100 fell 0.80 percent, Germany's DAX index lost 0.66 percent, and France's CAC-40 fell 0.47 percent.
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On the Net:
New York Stock Exchange: http://www.nyse.com/
Nasdaq Stock Market: http://www.nasdaq.com/
[Associated Press; By TIM PARADIS
Copyright 2007 The Associated Press. All rights reserved. This
material may not be published, broadcast, rewritten or
redistributed.
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