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U.S. Stock-Index Futures Rise Amid Earnings, Retail Sales Data

Aug. 13 (Bloomberg) -- U.S. stock futures rose, rebounding from yesterday’s decline, as data showed retail sales were little changed last month and investors assessed corporate earnings reports.

Amazon.com Inc. climbed 2.7 percent after ChannelAdvisor Corp. said the retailer’s same-store sales rose 40 percent in July. FleetCor Technologies Inc. rose 2 percent after it agreed to acquire Comdata Inc. for $3.45 billion. King Digital Entertainment Plc plummeted 22 percent trading after posting worse-than-forecast sales and cutting its 2014 outlook. Macy’s Inc. lost 4.6 percent after profit fell short of estimates.

Standard & Poor’s 500 Index futures expiring in September gained 0.4 percent to 1,937.9 at 8:35 a.m. in New York. Dow Jones Industrial Average contracts climbed 50 points, or 0.3 percent, to 16,569 today.

Retail sales were little changed in July, the worst performance in six months, as car demand slowed and tepid wage growth restrained U.S. consumers. The slowdown in purchases followed a 0.2 percent advance in June, the Commerce Department reported today in Washington.

Recent data have shown U.S. gross domestic product expanded at a 4 percent annual pace in the second quarter, confirming the Fed’s view that a first-quarter contraction was transitory. Employers in the U.S. added more than 200,000 jobs for a sixth straight month in July, the longest such period since 1997.

Investors have been scrutinizing data to gauge the health of the world’s largest economy and for clues on the timing of Federal Reserve stimulus cuts.

The economic strength has created concern that the Fed may be forced to act on rates sooner than anticipated, as the central bank remains on pace to wind down its monthly bond purchases in October. Fed Chair Janet Yellen has said officials will keep its benchmark low for a “considerable time” after the bond buying ends.

Three-rounds of bond purchases and record-low interest rates have helped push stocks higher by as much as 194 percent from a bear-market low in 2009.

Earnings Scorecard

The S&P 500 last closed at a record on July 24 before tumbling 3.9 percent on concerns that geopolitical crises from Ukraine to Israel and Iraq could derail the global economy. The gauge closed yesterday 2.7 percent below its all-time high.

Four companies, including Macy’s and Cisco Systems Inc. report earnings today. About 75 percent of those that have posted results this season have beaten analyst estimates, while 64 percent have exceeded sales projections, data compiled by Bloomberg show.

Amazon.com climbed 2.7 percent to $328. ChannelAdvisor said the company’s rate of sales growth has increased each month this year.

EBay Inc. slipped 1.4 percent to $52.70. Its July sales grew by 9.7 percent, down from a 12 percent gain in June, according to ChannelAdvisor.

FleetCor Technologies added 2 percent to $132. The provider of fuel cards said it will finance the purchase of Comdata with about $2.4 billion of new debt and issue about 7.3 million of its shares to Ceridian LLC, which owns the company.

Candy Crush

King Digital Entertainment tumbled 22 percent to $14.25. The maker of the Candy Crush Saga video game said yesterday that gross bookings -- the value of virtual merchandise sold -- will fall in the third quarter. It also reported second-quarter adjusted revenue that missed analysts’ projections.

Deere & Co. slipped 1 percent to $85.60. The world’s largest agricultural-equipment maker cut its fiscal-year profit estimate as record crops weighed on grain prices and deterred spending by U.S. farmers. Deere predicted net income will fall to about $3.1 billion in the year through Oct. 31. It had forecast profit of about $3.3 billion.

Macy’s sank 4.6 percent to $56.99. The second-largest U.S. department-store company’s earnings missed estimates after discounts meant to lure shoppers eroded profit margins.

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