Ahead of the holidays, the market starts with only a few announcements on Monday. The housing market index is the major announcement awaited by the investors. Home sales data, housing starts, durable goods orders and personal income and spending reports are expected in next days.
Asian shares closed mostly higher, while European shares are trading higher. Initial trading on the U.S. Futures Index hints about higher opening for Wall Street.
As of 6.15 am ET, the Dow futures were climbing 126 points, the S&P 500 futures were adding 9.50 points and the Nasdaq 100 futures were gaining 38.0 points.
U.S. stocks closed higher on Friday. . The Dow rose 143.08 points or 0.6 percent to 24,651.74, the Nasdaq spiked 80.06 points or 1.2 percent to 6,936.58 and the S&P 500 climbed 23.80 points or 0.9 percent to 2,675.81.
On the economic front, the National Association of Home Builders/Wells Fargo's Housing Market Index for December is expected at 10.00 am ET. The economists are looking for consensus of 70, unchanged from last month.
In the corporate sector, Norwegian energy firm Statoil ASA announced that it has agreed with Petróleo Brasileiro S.A. - Petrobras to acquire a 25 percent interest in Roncador, a large oil field in the Campos Basin in Brazil. The total consideration comprises an initial payment of $2.35 billion, plus additional contingent payments of up to $550 million. The transaction nearly triples Statoil's production in Brazil.
Most Asian stocks rose on Monday. Chinese shares finished marginally higher while Hong Kong's Hang Seng index closed up 202.30 points or 0.70 percent at 29,050.41.
Japanese shares rose for the first time in five days and Japan's exports grew at a faster pace than forecast in November. The Nikkei average gained 348.55 points or 1.55 percent to finish at 22,901.77, marking its biggest single-day rise in over a month, led by financials and exporters. The broader Topix index closed 1.36 percent higher at 1,817.90.
Australian shares rose for the first time in three sessions. The benchmark S&P/ASX 200 index climbed 41.90 points or 0.70 percent to 6,038.90, while the broader All Ordinaries index finished up 42.90 points or 0.70 percent at 6,130.
European shares are trading higher. The CAC 40 of France is gaining 60.68 points or 1.13 percent. DAX of Germany is adding 186.35 points or 1.41 percent. FTSE 100 of England is progressing 30.13 points or 0.39 percent. Swiss Market Index is up 31.33 points or 0.42 percent.
Euro Stoxx 50, that provides a Blue-chip representation of supersector leaders in the Eurozone, is up 1.19 percent.
by RTT Staff Writer
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