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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Bristol Myers Squibb Co | NYSE:BMY | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.29 | 0.66% | 43.99 | 44.33 | 43.685 | 43.93 | 12,104,157 | 01:00:00 |
By Saumya Vaishampayan
U.S. stocks were poised for a higher open Monday, following two straight weeks of losses.
Gains in European stocks and deal news helped lift stocks in premarket trade.
Dow Jones Industrial Average futures rose 59 points, or 0.3%, to 17708. S&P 500 futures gained seven points, or 0.4%, to 2042 and Nasdaq-100 futures added 14 points, or 0.3%, to 4215. Changes in stock futures don't always accurately predict moves in the stock market after the opening bell.
Stocks fell Friday, with the major indexes posting their second consecutive week of declines. For the week, the Dow lost 0.5% to 17737.37 and the S&P fell 0.7% to 2044.81.
Investors are turning their attention to fourth-quarter earnings season, which unofficially kicks off Monday when Alcoa Inc. reports after the bell. Earnings for companies in the S&P 500 are expected to rise about 1%, according to the latest data from FactSet. That would mark the weakest quarter of profit growth since 2012's third quarter, as companies deal with sharply lower oil prices and a stronger dollar.
"Investors will be eyeing very carefully the stronger dollar's impact" on earnings, said Peter Cardillo, chief market economist at broker-dealer Rockwell Global Capital.
Deal news attracted attention in premarket trade. Roche Holding AG agreed to pay $1.03 billion for a stake of up to 56.3% in Foundation Medicine Inc. Shares of Foundation Medicine surged 108% in premarket trading.
Shire PLC is buying NPS Pharmaceuticals Inc. for $5.2 billion. NPS Pharmaceuticals makes treatments for rare diseases. U.S.-listed shares of Shire fell 1.8% premarket, while shares of NPS jumped 8.5% premarket.
European stocks gained, pushing the Stoxx Europe 600 up 1%. The euro fell 0.4% to $1.1794, driven by the divergence in monetary policy between the Federal Reserve and European Central Bank.
In commodity markets, crude-oil futures fell 2.9% to $46.97 a barrel. Gold futures added 0.3% to $1219.70 an ounce.
Action was muted in the Treasury market. The yield on the 10-year note inched down to 1.965% from 1.975% on Friday. Yields fall as prices rise.
No economic releases are scheduled for Monday. Later in the week, investors will look for data on retail sales and consumer sentiment.
Among individual stocks, Bristol-Myers Squibb Co. shares rose 6% premarket after the company said a late-stage study of its skin-cancer drug Opdivo met its primary endpoint. Bristol-Myers Squibb also said it would end the trial early.
Write to Saumya Vaishampayan at saumya.vaishampayan@wsj.com
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