HR: Stock futures higher as oil edges up; Fed in focus
The Standard & Poor's 500 index lost four points, or 0.2 percent, to 2,008. The Dow Jones industrial average rose 156.41 points, or 0.9%, to 17,524.91. The Nasdaq composite rose 45 points, or 0.9 percent, to 4,998. All three major indexes fell more than 1 per cent on Friday and were on track for their worst weekly performance in a month as growing oversupply concerns dragged down crude oil prices to their 7-year lows. Apple shares were down 1.7 percent at $111.34 in premarket trading after Morgan Stanley and Barclays cut their price targets on the stock. Tomorrow, November CPI (consensus 0.0%) and December Empire Manufacturing Index (expected -5.9) will be reported at 8:30 ET while December NAHB Housing Market Index (consensus 63) will cross the wires at 10:00 ET. Newell Rubbermaid slumped as it said it will pay Jarden shareholders $60 a share in cash and stock. Herald Voice http://heraldvoice.com/2015/12/16/stock-futures-higher-as-oil-edges-up-fed-in-focus/
Valeant shares were up 18.6 per cent at $US112.72 after the Canadian drugmaker signed a distribution deal with Walgreens. US stocks are pointing higher in trading before the opening bell as the price of crude oil stabilizes for a second day and Wall Street awaits the Federal Reserve's decision Wednesday on interest rate hikes and eyes on the ongoing turmoil in the riskier corner of the corporate bond market. Jarden was up 2.7 percent at $54.09. The Fed's key short-term interest rate has been close to zero since December 16, 2008. Newell Rubbermaid stock fell $2.72, or 6 percent, to $42.56. Wholesale gasoline declined 2.6 cents, or 2 per cent, to $1.256 a gallon and heating oil lost 1.8 cents, or 1.6 per cent, to $1.128 a gallon. The boost in rates would be a sign of confidence in the USA economy, but some investors worry that it will slow down growth. "The focus will be less on what the Fed does and more on what they say about the future path of rates", said TD Securities analysts in a note. The price of copper fell 0.5 cents to $2.11 a pound. Herald Voice http://heraldvoice.com/2015/12/16/stock-futures-higher-as-oil-edges-up-fed-in-focus/
