Aug. 27 (Bloomberg) -- U.S. stock-index futures were little changed after the Standard & Poor’s 500 Index closed above 2,000 for the first time.
Tiffany & Co. added 1.6 percent in early New York trading before the jeweler reports earnings. MannKind Corp. gained 1.5 percent after Jefferies Group LLC recommended buying the stock.
Futures on the S&P 500 expiring in September rose 0.1 percent to 2,000 at 10:51 a.m. in London. The gauge climbed to 2,000.02 yesterday, rising for the sixth time in seven days, as economic data showed a record jump in durable-goods orders and an unexpected increase in consumer confidence. Dow Jones Industrial Average contracts added 17 points, or 0.1 percent, to 17,114 today.
“U.S. markets continue to defy geopolitical worries, although futures are currently fairly directionless,” Richard Hunter, the head of equities at Hargreaves Lansdown Plc in London, wrote in an e-mail.
Three rounds of Federal Reserve stimulus and optimism that central banks will continue to support economic growth, along with record corporate earnings, have helped the S&P 500 almost triple from its March 2009 low. Rallies from Brazil to Japan and the U.S. gauge’s first trip above 2,000 sent the value of global equities to a record $66 trillion.
Tiffany added 1.6 percent to $102.40. The world’s second- largest luxury-jewelry retailer will probably report adjusted profit of 85 cents a share for the second quarter, according to analysts’ projections. Sales in Europe may have improved and investors may expect earnings will beat estimates, Deutsche Bank AG said.
MannKind added 1.5 percent to $7.45. Jefferies started covering the company with a buy rating and a projected 12-month share price of $10, saying its diabetes treatment Afrezza may reach peak sales of $3.2 billion.