Futures Firm on Earnings; Global Shares Buoyed by China, Hong Kong Collaboration

Stock futures were cautiously higher on Monday as the dearth of economic data and last week's record highs contributed to a more restrained early trade. Third-quarter earnings were keeping equities buoyant, however, with results from Sotheby's ( BID ), 3D Systems ( DDD ) and Dean Foods ( DF ), as well a modest rebound in oil prices contributing to this morning's very modest gains.

There is no economic data scheduled for Monday. The Treasury will auction 3-month and 6-month bills as well as 3-year notes later today. Also, Boston Fed President Eric Rosengren (non-voting, dove) will be giving a speech at Washington and Lee University after the close.

Overseas markets were all posting sizeable gains in the wake of the news that China's Shanghai and Hong Kong's Hang Seng will debut a link on November 17th that will allow investors access to China's $4.2 trillion equity market. Gains in most of Asia (the Nikkei fell 0.59%) spread through Europe with Monday's gains magnified by expectations that this week's EU-zone inflation data will give the ECB ammunition to pour more cash into the financial system.

-Dow Jones Industrial up 0.09%

-S&P 500 futures up 0.10%

-Nasdaq 100 futures up 0.23%


Nikkei down 0.59%

Hang Seng up 0.83%

Shanghai Composite up 2.27%

FTSE-100 up 0.40%

DAX-30 up 0.16%


(+/-) Large cap tech: Mixed

(+/-) Chip stocks: Flat http://money.cnn.com/quote/quote.html?symb=INTC

(+) Software stocks: Higher

(+) Hardware stocks: Higher

(+) Internet stocks: Higher

(+/-) Drug stocks: Mixed

(+/-) Financial stocks: Mixed

(+/-) Retail stocks: Mixed

(+) Industrial stocks: Higher

(-) Airlines: Lower

(+/-) Autos Mixed


(+) IBIO (+20.69%) Announced an accord to allow Caliber Biotherapeutics use of IbioLaunch Platform for Ebola treatments

(+) OREX (+6.49%) Reports better-than-expected Q3 results, swings to a profit as spending declines

(+) ACHN (+7.32%) Reported a 100% SVR12 in a Phase 2 combination study with ACH-3102


(-) DNDN (-72.40%) Files Chapter 11 bankruptcy

(-) GOGO (-7.45%) Misses Q3 loss expectations, revenue in-line, reaffirms FY14 guidance

(-) GPRO (-6.27%) Announces plan to sell $800 mln in shares, does not plan to pay dividends

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

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