Futures rise as Americans ignore taxes and spend

NEW YORK (AP) — U.S. stock futures rebounded Monday after last week’s lackluster economic growth numbers, with new government data showing an uptick in consumer spending.

Americans appear to be largely unfazed by higher taxes, as spending and income both rose 0.2 percent.

Dow Jones industrial futures rose 55 points to 14,704. The broader S&P futures added 6 points to 1,582.50. Nasdaq futures gained 12.75 points to 2,843.25.

The earnings season continues, though Monday is light on reports.

Chrysler’s first-quarter profit fell 65 percent as it shipped fewer older vehicles in preparation for several key product launches. The company predicted a strong performance in the second half of the year.

Express Scripts reporting after the closing bell.

Also on Monday, Sprint Nextel got a go ahead to seek more information from the Dish Network about a bid to acquire the company. Sprint had already agreed to sell a 70 percent stake to Japan’s Softbank Corp. for $20.1 billion, but Dish has made a competing offer of $25.5 billion for the entire company.

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