US pre-open: Futures higher ahead of final November session

(Sharecast News) - Wall Street futures were in the green ahead of the bell on Thursday as a winning month for stocks gets set to draw to a close. As of 1230 GMT, Dow Jones futures were up 0.50%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.22% and 0.27% firmer, respectively.

The Dow closed just 13.44 points higher on Wednesday, narrowly extending gains recorded in the previous session after US GDP figures came in ahead of expectations,

Major averages were on track to see out November with solid gains, putting an end to a three-month losing streak. For the month, the S&P 500 was up 8.5%, while the Nasdaq picked up nearly 11%. The blue-chip Dow Jones was up 7.2% in November, setting the stage for its best month since last October.

AJ Bell's Russ Mould said: "US indices are on course to chalk up their best month of the year in November. Data points and commentary from the Federal Reserve have largely reinforced the idea that the current rate hiking cycle is at its end.

"It now feels like the market is waiting for the next big kicker to push it higher with forthcoming US jobs figures, inflation readings and central bank meetings as potential catalysts."

On the macro front, weekly jobless claims data from the Labor Department will be out at 1330 GMT, as will the Fed's preferred inflation gauge, personal expenditure, income, and spending figures, while November's Chicago purchasing managers' index will follow at 1445 GMT and pending home sales will be on deck at 1500 GMT.

In the corporate space, Big Lots and Kroger will report earnings Thursday before the bel

Reporting by Iain Gilbert at Sharecast.com