💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

US STOCKS-Futures rise as dollar falls, Verizon on tap

Published 10/26/2009, 07:10 AM
Updated 10/26/2009, 07:12 AM
CVX
-

* Dollar falls to 14-month low

* Verizon, McGraw Hill set to report

* Futures up: S&P 3.10 pts, Dow 39 pts, Nasdaq 7.50 pts * For up-to-the-minute market news, click STXNEWS/US

NEW YORK, Oct 26 (Reuters) - U.S. stock index futures rose on Monday after a selloff in the previous session as investors looked ahead to a busy week of economic data, while the U.S. dollar fell to a 14-month low.

* Verizon and McGraw Hill are among companies reporting on Monday. Oil giants ExxonMobil, Chevron and Conoco-Philips report later in the week.

* Investors will take in the Dallas Fed survey for October later in the morning, but the highlight of the week will likely be on Thursday, when GDP data may show the U.S. economy returned to growth. Analysts expect the report to show the economy grew by 3.3 percent in the third quarter, according to a Reuters survey.

* The dollar fell to a 14-month low against the euro on Monday after a Chinese report saying Beijing should increase its holdings of euros and yen in its foreign reserves led investors to sell the greenback. For details, see ID:nLQ102713

* U.S. equities and the dollar have moved in the opposite direction as of late as the weak dollar helps multinationals with overseas sales and signals improving risk appetite.

* S&P 500 futures SPc1> rose 3.10 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 DJc1> gained 39 points, while Nasdaq futures NDc1> added 7.50 points.

* U.S. stocks fell on Friday, with the major indexes slipping for the first week in three, as industrial companies' weak results overshadowed robust earnings from tech and retail heavy-weights.

* The blue-chip Dow average .DJI> finished below 10,000, but is still up 54 percent from the March low as investors grow more confident that the economy will recover, and as corporate earnings beat expectations. ID:nN23124880 (Reporting by Leah Schnurr, editing by W Simon )

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.