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US Stock Futures Rise As Dubai Debt Fears Ease, Amazon (NASDAQ: AMZN) Eyed
By: iStockAnalyst   Monday, November 30, 2009 9:05 AM

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(By Salman - iStockAnalyst Writer)US stock futures advanced on Monday as investor worries over Dubai's debt crisis receded.

At 8:21 am ET, the S&P 500 futures rose 1.80 points to 1091.30. The Dow Jones Industrial average futures gained 8 points to 10300. The Nasdaq Composite futures advanced 3.75 points to 1763. 

United Arab Emirates' central bank said on Sunday that it ''stands behind'' the country's banks, easing concerns about a possible default by Dubai World. The bank set up an emergency liquidity facility in order to ease worries over Dubai's debt problems.

Online retailer Amazon.com Inc (NASDAQ: AMZN) announced on Monday that its Kindle electronic book reader posted its best sales yet in the month of November.

Early on Monday, UnitedHealth Group Inc. (NYSE: UNH) said that it will affirm its prior outlook for 2009 net earnings of about $3.15 a share during its annual investor conference in New York on Tuesday The Minneapolis-based health-insurer also said it expects 2010 revenue of $88.5 billion to $89.5 billion and earnings of $2.90 to $3.10 a share.

According to data released Monday by the Semiconductor Industry Association, worldwide sales of semiconductors in October dropped 3.5% from a year ago to $21.7 billion, but climbed 5.1% compared to September.

Meanwhile, shares of Sands China Ltd. plunged 10 percent in its first day of Hong Kong trade Monday, after raising $2.5 billion in an initial public offering to help restart its gambling projects in Macau.

On the economic front, Chicago PMI data is due for release at 09:45 am ET.

US stocks finished lower in thin trade on Friday as worries about Dubai's financial trouble rattled investors.

European stocks retreated in afternoon trade. At 13:00 pm London time, the UK FTSE lost 45.28 points or 0.86% to 5,200.45. The German DAX and French decreased 1.02% and 1.04% respectively. 

Asian stocks finished with strong gains. The Nikkei 225 surged 264.03 points or 2.91% to 9,345.55. The Hang Seng index of Hong Kong soared 687 points or 3.25% to 21,821.50.

NYMEX crude oil for December delivery was little changed at $75.92 a barrel in electronic trading.

Disclosure: Author doesn't own any of the stocks discussed here. 


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The above story is the opinion of the author only and it does not reflect iStockAnalyst opinion. Further, the author is not personally advising you regarding the suitability of the story for your investment needs. In no event iStockAnalyst will be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from or arising out of, or in connection with the use of this information. Please consult your investment advisor before making any investment decision.
  
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