(By Balaseshan) US stock-index futures pointed to a higher open on
the Wall Street, on hopes that China might announce stimulus plan and
Greece might avoid exiting from the euro zone.
Mini Dow industrial average futures added 80.00 points to 12,509.00.
The Nasdaq Futures gained 18.00 points to 2,542.00. Standard and Poor's
500 futures edged 7.70 points higher to 1,322.70.
On the US
economic front, the S&P/Case-Shiller home price index, which tracks
monthly values of residential real estates in 20 metropolitan regions,
is scheduled to be released at 9 am. In addition, the Conference Board
is scheduled to release its consumer confidence report for May at 10 am.
There has been speculation that China, whose biggest export market is
crisis-hit Europe, may soon launch a stimulus program to boost
economic growth. China's biggest banks appeared to have accelerated
lending toward the end of this month as Beijing starts to fast-track its
approval of infrastructure investments in an effort to stem sagging
growth, the official Shanghai Securities News reported Tuesday citing
On the European news front, an exit poll results showed that Greece's
pro-bailout parties gaining ground eased concerns about the possibility
of the country's exit from the euro zone.
On Friday, U.S. stocks
ended on a lower note ahead of the long holiday weekend amid concerns
about debt-plagued Greece and Spain's struggle with its finances.
Hot Stocks Of The Day: VRTX, LCRY, TDY, TRMK, BTFG
corporate news, Vertex Pharmaceuticals Inc. (NASDAQ:VRTX) plunged 20.66
percent in premarket after the drug maker corrected cystic fibrosis
LeCROY Corp. (NASDAQ:LCRY) jumped 55.03 percent in premarket after
Teledyne Technologies Inc. (NYSE:TDY) agreed to buy the oscilloscopes
maker for around $291 million, or $14.30 per share, in cash. The deal
represents a premium of 56.5 percent to LCRY's previous closing price.
Trustmark Corp. (NASDAQ:TRMK) is acquiring BancTrust Financial Group
Inc. (NASDAQ:BTFG) for around $55.4 million, or $3.08 a share, to expand
its presence in Alabama markets. Holders of BancTrust stock will
receive 0.125 shares of Trustmark stock for each share of BancTrust
stock in a tax-free exchange. The deal represents a 62 percent premium
to BTFG's closing price of $1.90 on Friday.
The European markets traded on
a mixed note on Greece's exit poll results, with Germany's DAX gaining
0.58 percent to trade at 6,360.14. France's CAC40 added 0.53 percent to
3,059.10. Britain's FTSE 100 edged 0.01 percent lower to 5,355.54.
Asian markets closed higher on China stimulus hopes. The Shanghai
Composite Index jumped 1.20 percent to end at 2,389.64. Hong Kong's Hang
Seng rallied 1.35 percent to close at 19,055.46. Japan's Nikkei 225
gained 0.74 percent to close at 8,657.08. India's BSE Sensex finished at
16,438.58, up 0.13 percent.
Ahead of the opening bell, crude
oil futures gained 0.11 percent to $90.96 per barrel. Gold futures added
0.74 percent to $1,568.80 per ounce.
In the currency market, the
euro edged 0.08 percent lower against the U.S. dollar to 1.2532, and the
British pound shed 0.13 percent against the greenback to 1.5662. The
dollar rose 0.10 percent against the Japanese yen to 79.5500.