MARKET SNAPSHOT: U.S. Stocks: Dow Futures Rise More Than 100 Points
October 07 2015 - 5:25AM
Dow Jones News
By Victor Reklaitis, MarketWatch
Constellation Brands, Monsanto to grab spotlight
U.S. stock futures pointed to a higher open on Wednesday,
joining in a global advance led by energy stocks as crude prices
rose about 2%.
Investors also will look out for quarterly earnings from
Constellation Brands Inc. (STZ) and Monsanto Co. (MON) that are due
ahead of the opening bell.
S&P 500 futures rose 13.40 points, or 0.7%, to 1,982, while
Dow Jones Industrial Average futures gained 111 points, or 0.7%, to
16,783. Nasdaq 100 futures tacked on 36 points, or 0.8%, to
4,326.25.
On Tuesday, the S&P 500 closed 0.4% lower at 1,979.92
(http://www.marketwatch.com/story/us-stock-futures-slip-after-rally-as-earnings-season-looms-2015-10-06),
snapping a five-day losing streak, while the Dow was up less than
0.1%.
Investors "need the S&P 500 to make a run and a break
through 2,000," and that would energize other markets, said Scott
Schuberg, CEO of Rivkin Securities in Australia, in a note late
Tuesday. The U.S. stock benchmark is down 3.8% for the year.
Other markets: November West Texas Intermediate crude rose more
than 2% early Wednesday
(http://www.marketwatch.com/story/oil-prices-extend-gains-on-lower-us-production-2015-10-07).
That built on Tuesday's 4.9% gain, which came amid signs of cuts to
oil investments and lower crude supplies.
Energy shares helped lead the way higher for European and Asian
markets
(http://www.marketwatch.com/story/asin-shares-battle-for-black-after-boj-keeps-monetary-policy-unchanged-2015-10-07)
early Wednesday. Trading remains closed for a holiday in Shanghai,
and Japan's central bank kept its monetary policy unchanged
(http://www.marketwatch.com/story/bank-of-japan-stands-pat-on-policy-despite-economic-troubles-2015-10-07).
Gold and the dollar both inched higher.
Stocks to watch: Beyond earnings before the open for
Constellation and Monsanto, investors are focused on the latest
release from Yum Brands Inc. (YUM)
The parent company for KFC, Pizza Hut and Taco Bell saw its
shares tumble late Tuesday after cutting its earnings outlook
(http://www.marketwatch.com/story/yum-brands-cuts-outlook-on-china-woes-2015-10-06-164855228)
for the year, citing a slower-than-expected recovery in China and
lingering currency issues.
Shares in beer giants Anheuser-Busch InBev N.V. (ABI.BT)
(ABI.BT) and SABMiller PLC (SAB.JO) (SAB.JO) traded higher after AB
InBev made a fresh bid for the Peroni maker.
U.S. economic news: There are no top-tier U.S. economic reports
due Wednesday, and also no Federal Reserve speeches expected.
Minutes from the last Fed meeting are slated to get released
Thursday, along with weekly jobless claims.
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(END) Dow Jones Newswires
October 07, 2015 05:10 ET (09:10 GMT)
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