US indexes set for fourth week of gains

New York - US stock index futures were modestly higher on Friday, suggesting the market's recent upswing was intact and pointing to a fourth straight week of gains for major indexes.

The US bourse is set to open higher as European leaders get ready to meet. Credit: REUTERS

However, this week's trading volume has been among the lightest of the year, and that is likely to be more pronounced on Friday, ahead of the Labor Day holiday in the United States for which markets will be closed on Monday.

July personal income and spending data will be released at 14:30 SA time; both are seen up slightly.

Both are seen rising modestly.

Dow Jones industrial average e-mini futures rose 42 points and Nasdaq 100 e-mini futures rose 12 points.

For the month of August, the Dow is up 3.1 percent, S&P is up 3.4 percent and the Nasdaq is up 4.3 percent.

Both the Dow and S&P have climbed in six of the past seven months.

Over the past 14 sessions, it has had a move larger than that only once.

While few US companies have heavy exposure to either country, investors are concerned about the potential response by the United States and Europe to any escalation in hostility. - Reuters