Stock index futures signal early gains
November 19, 2012 10:49 PM EST
Stock index futures pointed to a higher open on Wall Street on Monday, with futures for the S&P 500 up 0.46 percent, Dow Jones futures up 0.4 percent and Nasdaq 100 futures up 0.47 percent at 1021 GMT.
Asian and European stocks climbed and German government bond prices fell as investors were encouraged by an improving outlook for talks to resolve an imminent fiscal crunch in the United States.
Leading U.S. lawmakers expressed confidence on Sunday that they could reach a deal to avert the "fiscal cliff" even as they laid down markers on taxes and spending that may make any agreement more difficult.
Networking equipment company Cisco Systems Inc
Wal-Mart Stores Inc
Rupert Murdoch's News Corp
Online financial services company ETrade Financial Corp
On the macro front, investors awaited data on existing home sales for October, due at 1500 GMT. Economists in a Reuters survey forecast a 4.75 million annualized unit total, a repeat of the September annualized total. Investors also eyed the November housing market index, due at 1500 GMT.
Hope that U.S. politicians would find common ground to steer clear of the "fiscal cliff" boosted stocks on Friday, though the gains were not enough to offset the week's losses.
The Dow Jones industrial average <.DJI> added 45.93 points, or 0.37 percent, to 12,588.31. The Standard & Poor's 500 Index <.SPX> rose 6.55 points, or 0.48 percent, to 1,359.88. The Nasdaq Composite Index <.IXIC> gained 16.19 points, or 0.57 percent, to 2,853.13.
(Reporting by Blaise Robinson; Editing by Catherine Evans)