Futures edge up after latest record; data on tap, U.S. stock index futures edged higher on Tuesday, a day after the Dow and S&P 500 closed at fresh records, and ahead of a raft of economic data.
* Major Wall Street indexes have risen for four straight sessions, pushing the benchmark S&P index .SPX to its 50th record high of the year. The S&P has risen 5.4 percent over that period, its best 4-day run since July 2010. The rally comes on the heels of a selloff, sparked by a slump in oil prices that saw the index drop nearly 5 percent from its prior record high set on Dec. 5.
* Investors will eye a slew of economic data, including the final reading for third-quarter gross domestic product (GDP) and durable goods at 8:30 a.m.. Economists expect the GDP to show the U.S. economy grew at a 4.3 percent annual pace, up from the prior estimate of 3.9 percent. Durable goods orders are forecast to show a 2.9 percent increase.
* The Thomson Reuters/University of Michigan's final December reading on consumer sentiment is scheduled for release at 9:55 a.m. New home sales data for November as well as the November reading for personal income and spending are expected at 10 a.m..
* Trading volume is expected to be light this week due to the Christmas holiday, which could increase volatility. U.S. equity markets will open for an abbreviated session Wednesday and be closed on Thursday.
* Gilead Sciences Inc (GILD.O) was the most actively traded issue on the Nasdaq premarket, up 0.8 percent to $93.65. On Monday, the drugmaker slumped more than 14 percent, its biggest drop in nearly 14 years, after Express Scripts Holding Co (ESRX.O) said it lined up a cheaper price for AbbVie Inc's (ABBV.N) newly approved hepatitis C treatment and, in most cases, will no longer cover Gilead's rival treatments.
* China Finance Online Co Ltd (JRJC.O) jumped 20.9 percent to $6.43 before the opening bell after the web-based financial services company posted quarterly results. Volume of over 87,000 shares represented about 6 percent of its 10-day daily average.
Futures snapshot at 8:02:
* S&P 500 e-minis ESc1 were up 3.75 points, or 0.18 percent, with 52,186 contracts changing hands.
* Nasdaq 100 e-minis NQc1 were up 9 points, or 0.21 percent, on volume of 7,310 contracts.
* Dow e-minis 1YMc1 were up 40 points, or 0.22 percent, with 7,551 contracts changing hands.
