Debt Consolidation and Management Guide

December 30, 2008

Stock index futures point to gains; focus on oil

Filed under: News & Articles

(Reuters) – U.S. stock index futures pointed to a higher open on Wall Street on Monday, as a jump in oil prices could buoy energy shares, but volumes were expected to remain thin with few investors at work between the Christmas and New Year breaks.

At 0910 GMT (4:10 a.m. EST), S&P 500 March futures were up 0.1 percent, Dow Jones futures were up 0.3 percent and Nasdaq 100 futures were up 0.1 percent.

Oil gained as much as 5.6 percent to nearly $40 a barrel in the wake of weekend violence between Israel and Hamas, rekindling geopolitical fears surrounding crude supplies from the Middle East.

Mining shares will also be in focus after copper futures prices in London and Shanghai rose more than 2 percent as traders hunted bargains following gains in oil prices and a fall in the dollar.

The Chicago Fed Midwest manufacturing index for November was the only piece of macro data expected on Monday, while no S&P 500 company was due to report earnings.

 

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