(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.