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Global shares rose and the dollar weakened as the U.S. Federal
Reserve's tempered position on interest rate hikes continued to
improve sentiment.
Crude oil dipped slightly as traders booked profits from a rally
this week, but remained near 2016 highs on hopes that major oil
producers would reach a deal to freeze output. [O/R]
Wall Street drifted higher on Thursday, bringing the S&P 500
within shouting distance of a gain for 2016, as energy and
materials stocks rose. The Dow closed up 0.324 percent for 2016.
With the Fed being cautious over rate hikes, investors will now
keep a close eye on global economic and financial market
conditions to gauge the impact of overseas weakness on U.S.
economy and earnings growth.
U.S. data on Friday includes a preliminary reading of the
University of Michigan's consumer sentiment index, which is
expected at 92.2 for March, improving from a final reading of
91.7 last month. The report is due at 10 a.m. ET.
U.S. stock index futures also got a boost from contracts set to
expire on Friday.
New York Fed President William Dudley, Boston Fed President Eric
Rosengren and St. Louis Fed chief James Bullard, FOMC voting
members, are scheduled to speak at separate events through the
day.
Shares of Adobe <ADBE.O> were up 5.8 percent at $95.19 premarket
after the Photoshop maker raised its full-year profit and
revenue forecasts above expectations.
Tiffany <TIF.N> was up 2.5 percent at $71.84 after results.
Wynn Resorts <WYNN.O> rose 1.2 percent at $88.80 after Deutsche
Bank raised its price target on the stock.
Dow e-minis <1YMc2> were up 46 points, or 0.26 percent, with
18,102 contracts changing hands.
S&P 500 e-minis <ESc2> were up 5.5 points, or 0.27 percent, with
162,691 contracts traded.
Nasdaq 100 e-minis <NQc2> were up 9.25 points, or 0.21 percent,
on volume of 15,854 contracts.
(Reporting by Abhiram Nandakumar in Bengaluru; Editing by Don
Sebastian)
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