US Stock Index Futures Maintain Status- Quo Prior to Key Economic Data

U.S. stock-index futures didn’t show any excitement before release of home sales, factory orders and jobless claims data. Meanwhile shares of Fifth Third Bancorp (NASDAQ: FITB) fell by 2.9% to $12.18 after Sanford C. Bernstein & Co. downgraded the stock to Market performer as they believed the stock was fairly priced at these levels. Walt Disney Company (NYSE: DIS) & Coca Cola Company (NYSE: KO) jumped 1.9% & 1.1% respectively after buy recommendation by BofA- ML & UBS respectively.
On back of good earnings growth expectations in the banking sector & possible resolution to Greece’s sovereign debt crisis S&P 500 rose to its highest point after Jan 20. Economists expect a better performance in the housing sector due to extension in tax credit, they also feel that jobless claims would go down.
The euro fell from a two-week high against the dollar. Fund Manager’s feel the dollar might rise against global currencies thus resulting in an exit from riskier asset classes.