Futures rise ahead of housing data, strong earns

US stock futures head higher with strong housing sales expected for December; earns strong

Associated Press
Stocks gain, boosted by P&G, Starbucks earnings
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FILE - In this Tuesday, Jan. 22, 2013, file photo, traders work in their booth on the floor of the New York Stock Exchange near the close of trading. Wall Street appeared headed for gains Friday Jan. 25, 2013 with Dow Jones industrial futures edging up on world markets. (AP Photo/Richard Drew, File)

NEW YORK (AP) -- Futures are rising on what is expected to be more upbeat data on housing from the government as well as strong earnings from U.S. companies.

Dow Jones industrial futures are up 32 points to 13,813. The broader S&P futures have added 4 points to 1,495.80. Nasdaq futures are up 10.5 points to 2,729.

Homebuilders are heading into 2013 with a head of steam. The Commerce Department is expected to report that new home sales rose to a seasonally adjusted annual rate of 383,000 in December. Sales rose in November to 383,000, the fastest pace in more than 2 ½ years.

Shares of homebuilders are rising in advance of the report.

And household products makers Friday are beating Wall Street expectations for the quarter. Both Procter & Gamble and Kimberly-Clark posted healthy earnings.

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