U.S. stock futures turned higher close to the open on Monday, following euro zone markets up as oil futures gained, even as Greek’s anti-austerity party won Sunday’s elections.
Earlier, the Dow Jones Industrial Average and the S&P 500 futures had pointed to a lower open amid uncertainty about how the Greek election might impact the euro zone.
West Texas Intermediate crude for delivery March 15 rose 0.6% to $ 45.87 while Brent crude was higher 0.3% at $ 48.94.
In economic data out Monday, the Dallas Fed general business activity index, out at 10:30 a.m. E.T. is expected to be at 4.0 for January, down from 4.1 in December and within the wide consensus range of a decline to -5.0 and an increase to positive 7.3, according to data compiled by Econoday.
The week will also bring data on new home sales in December on Tuesday; the Federal Open Market Committee is expected to leave rates unchanged on Wednesday and on Friday, data are expected to show that GDP grew 3.2% in Q4, down from 5.0% in Q3.
In equities, Rock-Tenn Company ( RKT ) rose nearly 7% and MeadWestvaco ( MWV ) jumped nearly 14% before the market open after the two companies agreed to merge in a transaction with a combined equity value of $ 16 billion. Later Monday, Microsoft ( MSFT ) reports earnings after the market closes. MSFT was higher 0.3%.
U.S. PRE-MARKET INDICATORS
-Dow Jones Industrial up 0.05%
-S&P 500 futures up 0.08%
-Nasdaq 100 futures up 0.18%
-Nasdaq-100 Pre-Market Indicator up 0.12%
Nikkei down 0.25%
Hang Seng up 0.24%
Shanghai Composite up 1.01%
FTSE-100 down 0.03%
DAX-30 up 0.94%
PRE-MARKET SECTOR WATCH
(+/-) Large cap tech: mixed
(-) Chip stocks: unchanged to lower
(+/-) Software stocks: mixed
(+/-) Hardware stocks: mixed
(+/-) Internet stocks: mixed
(+/-) Drug stocks: mixed
(+/-) Financial stocks: mixed
(+/-) Retail stocks: mixed
(+/-) Industrial stocks: mixed
(-) Airlines: lower
(+/-) Autos: mixed
(+) OCN (+25.5%) Reaches $ 2.5 million settlement with California mortgage regulator
(+) HCA (+5.0%) To join S&P 500
(+) RMTI (+16.7%) Gets FDA OK for Triferic iron replacement
(+) CNET (+26.3%) Launches BIDU partnership
(+) BCLI (+7.9%) Reports positive autism treatment study
(+) LACO (+14.3%) To merge with Sartini Gaming at 37% premium
(+) OLED (+22.9%) Strikes license, supply deal with LPL
(+) DHI (+6.9%) Q1 results top estimates
(+) SHPG (+2.1%) Gets fast track designation from FDA for Hunter syndrome drug
(+) AXS (+3.3%) Agrees to merger of equals with PRE (-2.6%)
(+) CLF (+3.7%) Reduces net debt balance, eliminates quarterly dividend
(-) GWW (-3.9%) Cuts FY guidance
(-) NSC (-1.7%) Q4 revenue misses views
(-) STX (-3.4%) Reports in-line fiscal Q2 results