U.S. Stock index futures fluctuated

U.S. Stock index futures fluctuated, indicating the Standard & Poor's 500 will remain near the highest level since Lehman Brothers Holdings Inc. 's 2008 bankruptcy, before a meeting of the heads of the Federal Reserve.

Amgen Inc., the world's largest biotechnology company, advanced 7.7 percent in early trading after a study showed one of its drugs delay the spread of prostate cancer to the bones of men. HCP Inc. may move as the health care real estate investment trust agreed to pay 6.1 billion U.S. dollars for 338 nursing homes in UNHCR ManorCare Inc.

Futures on the S & P 500 expiring in March rose 0.1 percent to 1238 at 6:30 am in New York. The index has risen 11 percent this year, the Fed announced a program of 600 billion U.S. dollars of bonds with an option to purchase to help economic recovery and improved corporate profits. Dow Jones futures Industrial Average added 0.1 percent to 11,380 today, and Nasdaq-100 Index futures rose the same amount of 2,213.5.

"The Fed policy is well designed and will be very useful from the standpoint of the economy," said Andrew Popper, chief investment officer at SG Hambros Bank Ltd., on Television "On The Move" with Francine Lacqua . "It is still very positive on equities."

The S & P 500 rose 0.06 points yesterday to 1,240.46, after rising as high as 1,246.73 earlier in the day, nearly beating 1,251.7, its closing level prior to the bankruptcy of Lehman Brothers sent the gauge to a crash 46 percent through March 2009.

Fed Stimulus

Fed officials are likely to make any changes in its economic stimulus package when they meet today in Washington last year, according to 38 of 39 analysts in a survey of 7 to 8 December.

The U.S. retail sales probably rose in November for the fifth consecutive month holiday shopping season got underway, a sign consumers will play an important role in recovery, economists said before a Commerce Department report due at 8:30 am Washington.

The projected increase of 0.6 percent would increase 1.2 percent in October on purchases, according to the median of 77 economists surveyed by us. Other figures may show the cost of wholesale were contained and increased inventories.

Also at 8:30 am, the Labor Department may report the producer price index rose 0.6 percent in November from the previous month, according to the survey median. Excluding fuel and food, core prices were probably 1.2 percent since November 2009, the smallest increase year after year, since June.

Amgen progress

Amgen gained 7.7 percent to $ 58.25 in New premarket trading after saying York denosumab malignancy spread to the bones stuck at 4.2 months in patients with prostate cancer that the drug, compared with those taking placebos.

U.S. regulators approved November 18 drugs for use in reducing fractures in those whose cancer had already moved to his bones. Sales could grow to an additional $ 2 billion a year if the drug has also been approved Food and Drug Administration to prevent breast cancer in the bone moves, said Eric Schmidt, an analyst with Cowen & Co. in New York.

Amgen shares were raised to "overweight" from "neutral" at Piper Jaffray Cos

PCH, the largest U.S. health care real estate investment trust by market value, may be active after agreeing to buy nursing homes ManorCare UNHCR in the biggest acquisition of the property in at least three years.

UNHCR is owned by funds managed by Carlyle Group, which bought Manor Care Inc. for $ 6.3 billion in 2007. HCP non-commercial in Europe.

International Game Technology can climb as Morgan Stanley rated the shares "overweight" in new coverage.