By Carla Mozee, MarketWatch
Priceline results due
LONDON (MarketWatch) -- U.S. stock futures indicated gains for
Wall Street Monday, finding support in part from a top Federal
Reserve official's comments that suggest monetary policy may still
be needed to aid recovery in the world's largest economy.
Futures for the Dow Jones Industrial Average (DJU4) climbed 55
points, or 0.3%, to 16,534, while those for the S&P 500 index
(SPU4) rose 6.7 points, or 0.4%, to 1,930.40. The Nasdaq 100 index
(NDU4) moved 17 points, or 0.5%, higher to 3,890.75.
In terms of quarterly results, investors will look for
second-quarter figures from online travel services provider
Priceline. There is no major economic data on deck.
Ahead of Wall Street's open, Federal Reserve Vice Chairman
Stanley Fischer, in prepared comments for delivery at a conference
in Stockholm, said rebounds across advanced economies have been
disappointing, leading many observers, including the Fed, to reduce
their long-term expectations for growth potential in the U.S.
It's also still not clear whether U.S. economic growth was
permanently damaged by the most recent recession, he said.
A higher start for equities would key off gains from Friday's
session during which geopolitical tensions appeared to have cooled.
The Dow Jones Industrial Average (DJI) jumped 186 points, or 1.1%,
its biggest one-day percentage gain in more than four months. News
that "Russian military exercises have come to a conclusion on the
outskirts of Ukraine, coupled with a more proactive strategy from
the White House in dealing with Isis forces in Iraq, triggered a
market rally," wrote IG analyst Alastair McCaig to clients
Monday.
Stocks to watch
Priceline (PCLN) is expected to report adjusted earnings of
$12.06 a share, up from $9.70 a share a year ago, according to a
FactSet survey of analysts. Revenue is expected to rise to $2.14
billion.
Shares of Mannkind (MNKD) surged 32% in premarket trade after
the company reached a licensing deal with Sanofi (SNY) to develop
and sell inhaled insulin drug Afreeza in the U.S.
Kinder Morgan (KMI) shares gained 6.2% ahead of the bell
following plans to consolidate its oil-and-gas pipeline empire into
a single company in a $44 billion deal.
In other markets, oil futures (CLU4) post small gains, while
gold futures (GCZ4) fell. European stocks rose following last
week's losses, and Asian shares advanced, with Japan's Nikkei
Average up 2.4%.
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