Nasdaq futures up 127.75 points (Il Sole 24 Ore Radiocor) - New York, 20 Jun - US futures were higher ahead of a batch of economic data as investors look to see if Nvidia can lift the tech sector and market to more highs.

Wall Street is on track for a winning week after the S&P 500 and Nasdaq closed Tuesday at new record levels. The stock market was closed yesterday for the Juneteenth holiday.

Economic data on tap today includes building permits, housing starts and the Philadelphia business index. But a special eye will be kept on jobless claims to see whether recent data indicating a slowdown of the jobs market are indicative of a trend.

The labor market is key to the debate about when the Fed can start cutting interest rates and whether it will be able to engineer a soft landing - taming inflation without triggering a sharp downturn.

On the stocks front Nvidia is up 3.4% in premarket trade as it continues to fuel stock market growth on the back of the ongoing AI frenzy. The chip giant recently overtook Microsoft to become the most valuable publicly-listed company.

Honeywell shares meanwhile were down 0.4% after it agreed to buy aerospace and defense tech firm CAES Systems for 1.9 billion dollars.

Accenture, Darden Restaurants and Kroger are among companies reporting quarterly earnings today.

Futures on the Dow Jones were up 36.00 points, or 0.09%, S&P 500 futures were up 22.00 points, or 0.40%, while futures on the Nasdaq were 127.75 points, or 0.64%, higher.

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(RADIOCOR) 20-06-24 13:43:17 (0372) 5 NNNN