US stock futures up after hitting year's high

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Associated Press

Posted on February 13, 2013 at 8:02 AM

Updated Wednesday, Feb 13 at 8:02 AM

NEW YORK (AP) — U.S. stock futures are rising slightly a day after strong U.S. corporate earnings sent the Dow to its highest close since 2007.

Dow futures are up 17 points to 13,990. The broader S&P 500 futures are up 3 points to 1,519. Nasdaq futures are up 9 points to 2,769.

Investors will be looking toward a government report on January retail sales. U.S. consumers likely spent more cautiously at stores and restaurants last month after an increase in Social Security taxes cut into take-home pay. Economists expect that retail sales edged up 0.1 percent in January. The report is due at 8:30 a.m. Eastern.

The market will also weigh Tuesday's State of the Union address from President Barack Obama. Obama pressed his call to raise taxes on the wealthy to help fix looming fiscal crises.

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