Investing.com - U.S. stock markets pointed to strong gains at
the open on Monday, with the Dow futures briefly jumping more than
200 points as a rebound in
boosted market sentiment.
The blue-chip Dow futures climbed 191 points, or 1.16%, by
11:55GMT, or 6:55AM ET, the S&P 500 futures rose 23 points, or
1.16%, while the tech-heavy Nasdaq 100 futures advanced 53 points,
The dismal fourth quarter U.S. earnings season is starting to
wind down, with the S&P 500 facing an earnings drop of more
than 3% for the quarter. Earnings due Monday include, Allergan
(N:AGN_pa), Fitbit Inc (N:FIT), Motorola Solutions (N:MSI) and Dean
Foods Company (N:DF).
There is no major data scheduled for Monday, nor any Federal
Elsewhere, European stocks jumped to a two-week high as a rally
in oil prices calmed investor nerves after the recent commodity
In Asia, Chinese shares led gains across the region in the wake
of news that authorities were replacing China's beleaguered
Appetite for riskier assets improved as oil prices rallied more
than $1 on Monday, rebounding from the previous session's steep
declines amid indications U.S. oil drillers are cutting back on
Meanwhile, gold futures crashed almost $30, or 2.5%, as the
metal's safe-haven appeal was dented amid a recovery in oil prices
and global equity markets.
In the currency market, the British pound was on track for its
biggest one-day drop since May 2010 after London Mayor Boris
Johnson's shock decision to back a campaign for Britain to leave
the European Union in a June referendum.
The U.S. dollar index, which measures the greenback's strength
against a trade-weighted basket of six major currencies, was up
0.62% at 97.22, the highest since February 8.
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