wall street - likely to rise further

U.S. Stock-Index Futures Climb; Wal-Mart and Apple Advance

Nov. 28 (Bloomberg) -- U.S. stock-index futures advanced. Wal-Mart Stores Inc. and Apple Computer Inc. rose in Germany after Thanksgiving weekend retail sales surged 22 percent.

``This was a massive number,'' said Thor Udenaes, who manages $1 billion, including U.S. stocks, at SEB Asset Management in Stockholm. ``Consumers are so important for the U.S. economy. This will give a boost to the stock market.'' Udenaes has bought Apple stock this year.

Standard & Poor's 500 Index futures expiring in December added 2.4 to 1272.5 as of 10:21 a.m. in London. Dow Jones Industrial Average futures climbed 18 to 10,975. Nasdaq-100 Index futures increased 4 to 1708.5.

The S&P 500 has risen during the fourth quarter for nine of the past 10 years. Earnings for S&P 500 companies will climb 12.7 percent in the final three months of 2005, according to Thomson data. That would mean the longest streak of 10 percent-plus earnings growth since 1950, aside from a 13-quarter run between 1992 and 1995.

U.S. retail sales climbed to $27.8 billion over the Thanksgiving weekend, as shoppers bought electronics, clothing and books, the National Retail Federation said yesterday. Americans spent an average $302.81 during on gifts and items for themselves as well. The industry is on track for its second- biggest selling season since 1999.

Wal-Mart rose 64 cents to $50.64 in Germany. The world's largest retailer on Nov. 26 said same-store sales at its U.S. stores rose about 4.3 percent in November, helped by the strong start to the holiday shopping season.

Ebay

``Wal-Mart now seems to be back on track,'' said Alex Ingham, who helps oversee about $7 billion in U.S. stocks at Morley Fund Management in London. ``The consumer seems to be in reasonable shape. We're not looking at a penny-pinching Christmas.''

Apple, maker of the iPod music player, climbed 6 cents to $69.40. Dell Inc., the world's largest maker of personal computers, rose 9 cents to $30.42 in Switzerland.

``The data suggest overall consumer demand was stronger than we anticipated at the start of the holiday season,'' J.P. Morgan Securities Inc. computer hardware analysts including Bill Shope wrote in a note today. ``We are impressed with demand thus far.''

Ebay Inc., the world's largest online auctioneer, climbed 18 cents to $46.89 in Germany. U.S. consumers visiting online retailers on the Friday after Thanksgiving jumped 29 percent from a year earlier as shoppers browsed for toys, consumer electronics and clothing, according to a survey by Nielsen//NetRatings.

Among economic news today, a report may show sales of previously owned homes may have slowed in October. No companies in the S&P 500 are expected to report earnings today.

Exxon, Chevron Fall

Merck & Co. may be active. Chief Executive Officer Richard Clark said yesterday he is close to unveiling a restructuring plan for the third-largest U.S. drugmaker, whose earnings have fallen three straight years.

Exxon Mobil Corp. and Chevron Corp. dropped. Crude oil fell after forecasters predicted above-average temperatures in the U.S. Northeast this week, leading to lower demand for fuel.

Exxon, the world's largest oil company, dropped 24 cents to $59.97 in German trading. Chevron, the No. 2 U.S. oil company, fell 33 cents to $58.21. Crude oil for January delivery fell as much as 87 cents, or 1.5 percent, to $57.84 a barrel in after- hours electronic trading on the New York Mercantile Exchange.

CBOT

The National Association of Realtors Sales may say that previously owned homes slowed in October from the second-highest level on record in September and August. Economists surveyed by Bloomberg expect existing home sales of 7.2 million at an annual rate in October, down from 7.28 million in each of the two previous months. June's 7.35 million level was a record. The report is expected at 10 a.m. in Washington.

CBOT Holdings Inc. dropped $1.04 to $102.96 in Germany. Shares of the parent of the Chicago Board of Trade, which closed at $104 on Friday, would be trading ``way too high'' at $92 each, columnist Alan Abelson wrote in Barron's.

Federated Investors Inc., which manages about $207 billion in assets, agreed to pay at least $80 million to settle allegations that it allowed traders to buy and sell mutual funds in ways that hurt other clients, according to two people with direct knowledge of the matter. The shares didn't trade in Europe.

Fifth Weekly Gain

Stocks rose on Friday, capping a fifth straight week of advances. The S&P 500 reached its highest in more than four years on optimism the Federal Reserve may soon end interest-rate increases and holiday sales will exceed earlier estimates.

The Dow average on Friday added 15.53, erasing its loss for the year to close at 10,931.62 and coming within 9 points of a 2005 high. The S&P 500 rose 2.64 to 1268.25. The Nasdaq climbed 3.03 to 2263.01.

Asian stocks rose to the highest in more than five years today. The region's exporters, including Sony Corp. and flat- panel maker AU Optronics Corp., led the gains as the start of the U.S. holiday shopping season spurred hope of stronger consumer demand. The Morgan Stanley Capital International Asia-Pacific Index added 0.7 percent to 115.17 at 4:15 p.m. in Tokyo.