Stock futures rise with commods, dollar weakens
Stock index futures rose on Monday on expectations that rising commodity prices and a downtick in the U.S. dollar would boost stocks in the energy and materials sectors.
The dollar index <.DXY> edged 0.3 percent lower, while February crude gained 0.4 percent to $74.75 per barrel. The January contract expires later Monday.
We've got a mildly positive commodities complex and mildly weaker dollar, which seem to be the drivers early here, said Art Hogan, chief market analyst at Jefferies & Co in Boston.
Investors will keep an eye on Dubai after debt-ridden conglomerate Dubai World
The healthcare sector is in focus after a broad healthcare bill passed a crucial test in the U.S. Senate early Monday, as enough votes were put together to clear a key procedural hurdle in approving President Barack Obama's top legislative priority.
Walgreen Co
Drugmaker Sanofi-Aventis
Pfizer Inc
, the world's biggest drugmaker, is buying the rights to a stem-cell therapy to treat inflammatory bowel disease from Athersys Inc
S&P 500 futures rose 5.6 points and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures gained 38 points, and Nasdaq 100 futures added 11.5 points.
General Motors
Terex Corp
French group Safran SA
Potash Corp of Saskatchewan Inc's
New York-traded shares rose 2.8 percent to $107.90 in premarket trade after Goldman Sachs added the company to its conviction buy list. Goldman also upgraded Mosaic Corp
U.S. stocks rose Friday in choppy trade as quarterly results from Oracle Corp
(Editing by Jeffrey Benkoe)
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