US Futures Point Higher After Sell-Off Even as Emerging Market Rout Continues

By Staff,

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US stocks were poised to open higher Monday after last week's sell-off which saw the major indices down 2% on Friday. Both European and Asian markets were in the red Monday as jittery investors continued to flee emerging markets amid signs of slower growth.

Later this morning, December new home sales are expected to have dropped another 1.9% from November after having declined 2.1% in November. Nevertheless, new home sales have risen significantly from the July low.

In equities, Caterpillar ( CAT ) jumped over 7% as Q4 earnings topped expectations and as it announced a new $10 billion stock buyback program. Ariad Pharmaceuticals ( ARIA ) was set to gain for a fourth session, adding another 2% pre-bell, amid takeover speculation. Meanwhile, cable operator Liberty Global ( LBTYA ) shed 1.10% after agreeing to buy Dutch cable operator Ziggo for stock and cash valuing it at $10 billion euros ($13.7 billion.)

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks: ARIA , CAT , LBTYA

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