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US Stocks Buoyed by China Exports; Potential Syria Attack May Disrupt Gains

By: MT Newswires
Posted: 9/9/2013 9:07:00 AM
Referenced Stocks: MOLX

US stocks were poised to open higher Monday after Chinese exports grew more than expected. But, as the U.S. Congress returns from recess today, focus is turning to whether it will back President Barack Obama's plans to attack Syria.

Meanwhile, the market is still waiting for the Federal Reserve to decide on the timing and size of a tapering of its asset purchase program. The Fed's decision is informed by economic indicators including jobless figures. On Friday, monthly unemployment figures dropped to its lowest level since 2008 but the labor-participation share fell to its lowest level in 35 years.

In equities, Koch Industries said it will acquire Molex Corp ( MOLX ), the marker of electronic and fiber-optic connection systems, for $38.50 per share in a $7.2 billion deal. MOLX jumped 31.90% pre-market after trading halt was lifted.

U.S. PRE-MARKET INDICATORS

-Dow Jones Industrial up 0.23%

-S&P 500 futures down 0.21%

-Nasdaq 100 futures up 0.46%

-Nasdaq-100 Pre-Market Indicator up 0.35%

GLOBAL SENTIMENT

Nikkei up 2.48%

Hang Seng up 0,57%

Shanghai Composite up 3.39%

FTSE-100 down 0.56%

DAX-30 down 0.13%

PRE-MARKET SECTOR WATCH

(+) Large cap tech: higher

(+) Chip stocks: higher

(+) Software stocks: higher

(+) Hardware stocks: higher

(+) Internet stocks: higher

(+/-) Drug stocks: flat

(+) Financial stocks: higher

(+) Retail stocks: higher

(+) Industrial stocks: higher

(+) Airlines: higher

(+/-) Autos: mixed

UPSIDE MOVERS

(+) UNIS (+21.82%) Inks contract to supply Sanofi with its prefilled syringes

(+) BLRX (+13.40%) Gets FDA orphan drug designation for acute myeloid leukemia Drug

(+) DAL (+5.43%) To join S&P 500 Index on Tuesday

DOWNSIDE MOVERS

(-) HSOL (-9.11%) Posted a Q2 net loss of $0.32 per American depository share.

(-) BIOD (-7.75%) Even after achieving primary endpoint for type 2 diabetes insulin