Futures edge higher following durable goods report

KEN SWEET AP Markets Writer Published:

NEW YORK (AP) -- Stocks were looking to open slightly higher on Wall Street on Tuesday, helped by a report that showed American companies were investing in their businesses at the fastest pace since January.

However, trading is expected to be light with Christmas on Wednesday. U.S. markets will close early.

KEEPING SCORE: The Dow Jones industrial average futures rose 13 points to 16,251. The Standard & Poor's 500 index futures were up one point to 1,824 and the Nasdaq futures were up 1.25 points to 3,566.

MORE POSITIVE ECONOMIC DATA: The Commerce Department said orders for long-lasting manufactured products rose a better-than-expected 3.5 percent in November, the latest economic report to show the U.S. economy might be improving. Core capital goods, a category that tracks business investment, rose 4.5 percent, the biggest gain since January.

TARGET WOES CONTINUE: Shares of Target were down 1 percent in premarket trading after the company said Monday night that the U.S. Justice Department is investigating the credit and debit card security breach at the retailer. Target revealed last week that data connected to about 40 million credit and debit card accounts were stolen between Nov. 27 and Dec. 15. Target executives have also been meeting with state attorneys general to discuss the breach.

SHORTENED TRADING DAY: Both the New York Stock Exchange and the Nasdaq Stock Market will close at 1 p.m. Eastern on Tuesday. The exchanges will also be closed Christmas Day and will reopen for a full day of trading on Thursday.