Markets are up early in Europe's holiday-shortened trading session.

Britain's FTSE 100 is up 0.4%.

France's CAC 40 is up 0.2%.

Spain's IBEX is up 0.6%.

Germany, Italy, and most other major European markets are closed.

U.S. futures are up a hair after U.S. stocks closed at new record highs on Monday.

Incoming economic data has confirmed that the U.S. economy continues to grow at a healthy clip in Q4.

"Current quarter real GDP growth looks to be running near 4%," tweeted Deutsche Bank's Joe LaVorgna after Monday's personal income and spending report. "No wonder the unemployment rate is dropping so fast."

Later this morning, the U.S. will release new durable goods orders and new home sales stats before markets close at 1:00 p.m. ET.

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