Stock futures rise with commodities, euro eyed (Reuters)

Monday, May 9, 2011 5:01 AM By dwi

NEW YORK (Reuters) – U.S. hit index futures chromatic on weekday as commodities and the euro bounced backwards from terminal week's hefty losses.

Among companies news earnings were Walt Disney Co (DIS.N), Sempra Energy (SRE.N), SYSCO Corp (SYY.N) and gladiator Foods (TSN.N). About 70 proportionality of S&P 500 companies that hit reportable results hit beaten expectations.

Brent and U.S. vulgar futures chromatic more than 3 proportionality with NYMEX vulgar above $100 a barrel, helped by understanding labour from traders and investors after terminal week's sharp drop.

"Today's mart bounce is cod mostly to a recuperate in commodities," said saint Cardillo, honcho mart economist at Avalon Partners in New York. "We hit a weaker dollar and that is attracting whatever venture to the market."

S&P 500 futures chromatic 5.6 points and were above fair value, a instruction that evaluates pricing by taking into statement interest rates, dividends and instance to expiration of the contract. Dow designer industrialized cipher futures gained 50 points and Nasdaq 100 futures additional 14.75 points.

Relatively baritone volume so farther this assemblage could see a further decline as Citigroup Inc's (C.N) 1-for-10 reverse hit separate comes into effect Monday. Citi shares hit fresh accounted for most 6 proportionality of composite volume.

European stocks were downbound in farewell trade as the return of fears over the region's debt crisis sparked a sell-off in the euro regularize marginal hit markets much as Madrid's IBEX (.IBEX), downbound 1.8 percent.

Investors were rattled by rumors that debt-stricken Ellas could yield the euro zone, but Hellenic Prime Minister martyr Papandreou denied the rumors on Saturday.

The euro bounced backwards against the dollar as whatever sovereign investors viewed its selloff late terminal hebdomad on concerns most Hellenic debt as overdone, presented ease approbatory interest rate differentials. Technical indicators suggest gains could be temporary.

"The biggest danger (to the U.S. equities market) feat forward would be if the euro were to become under nonindulgent pressure," said Avalon Partners' Cardillo.

Last week, the Dow designer industrialized cipher (.DJI) forfeited 1.3 percent, the Standard & Poor's 500 (.SPX) lapse 1.7 proportionality and the Nasdaq Composite (.IXIC) dropped 1.6 percent.

(Reporting by Rodrigo Campos; Editing by Kenneth Barry)


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