- In Time for Holidays: More Gloom and Doom on Economy
- Turkey Day 101: How Well Do You Know Your Bird?
- US Home Prices Up 5th Month, 2nd Straight Quarter
- Holiday Guide to This Season's Smartphones
- Six Ways to Boost Your Income in a Big Way
- Buyers Look for Bargains at Luxury Condo Auction
- Ron Paul's Plan to Audit Fed a 'Serious Attack': Mishkin
- GM's Agreement to Sell Saab Unit Falls Apart
- Strong Banks, Weak Credit: Treasury Rethinks TARP
- Nov. 24: Unusual Volume Leaders
- NBA D-League On The Rise
- 3D's Tipping Point and Your Living Room
- On Twitter, Beware False Prophets
- My 2010 Home Price Outlook: UBS Analyst
- Why Are Options Piling into Dollar Tree?
- Novartis 'Cells' Its Flu Vaccine Technology
- Silicon Valley and Hollywood Now Fast Friends
- Markets Can Rise 5-10% in the Near-Term: Strategist
MOST SHARED
- The 'Real' Jobless Rate: 17.5% Of Workers Are Unemployed
- US Home Prices Up 5th Month, 2nd Straight Quarter
- GM's Agreement to Sell Saab To Swedish Firm Falls Apart
- Buyers Look For Bargains At Luxury Condo Auction
- FDIC Fund Falls into The Red, Bair Urges Lending
- Just In Time for Holidays: More Gloom and Doom on Economy
- CA "More Profitable" After Saving Energy: CEO
- 10 Holiday Cocktail Recipes from Top Mixologists
- Behind The Scenes With Warren Buffett
Text Size 
Futures indicated a positive open for Wall Street Monday as investors were cheered by news of a deal that will avoid bankruptcy for commercial lender CIT Group.
CNBC has confirmed that the company has cut a deal with its key bondholders for $3 billion in rescue financing and will be able to avoid a bankruptcy filing. The official announcement should come sometime in the morning.
CIT shares soared more than 78 percent in premarket trading after gaining 70 percent on Friday.
Earnings reports will again be a key factor this week in whether the stock market can keep its recent momentum going. Despite little movement Friday, the major averages chalked up their best weekly gains last week since the week ending March 13.
This week will see about a third of the S&P 500 report quarterly numbers, with nearly a half of the Dow companies doing the same.
Oilfield services leader Halliburton [HAL
Loading...
()
] said second-quarter profit fell 48 percent on weakness in exploration and production activity. But the 30 cents per share earnings appeared to narrowly beat analyst estimates, and shares were up about 1.5 percent premarket.
Also, toymaker Hasbro [HAS
Loading...
()
] said its profit rose 5 percent on the strength from G.I. Joe and Transformers sales that were tied to summer movie releases. Shares gained 2.4 percent premarket.
Among this morning's other notable reports: auto parts maker Johnson Controls [JCI
Loading...
()
] , and M&T Bank [MTB
Loading...
()
] .
After the bell, we'll get the latest from Texas Instruments [TXN
Loading...
()
] , as well as Boston Scientific [BSX
Loading...
()
] , Legg Mason [LM
Loading...
()
] , and Zions Bancorp [ZION
Loading...
()
] .
Monday's economic calendar is relatively light, although we will get the Conference Board's index of leading economic indicators at 10 am New York time, with economists expecting to see a rise of 0.5 percent for June.
Atlanta Fed President Dennis Lockhart will speak on the latest economic outlook in Nashville, Tennessee at 1:30 pm.
GlaxoSmithKline [GSK-LN
Loading...
()] was up over 3 percent as it and Human Genome [HGSI
Loading...
()
] reported positive results for a late stage study of a new lupus drug - the first new treatment for that disease in decades.
We could also see some positive movement for shares of Linux provider Red Hat [RHT
Loading...
()
] — it will replace CIT Group [CIT
Loading...
()
] in the S&P 500 after the close of trading Friday July 24.
— Peter Schacknow, CNBC Senior Producer, contributed to this report
- Remember when auto shows were major events where new models could generate buzz?
- CNBC’s Mike Huckman visits a cutting-edge plant to see how the flu vaccine of the future is being made.
- A new McDonald's in Manhattan is the nation's first to sport a sleek, chic interior imported from stores in London and Paris.
- Italians were outraged by a minister's comments that lunchbreaks are bad for waistlines and the economy.
- Playboy will outsource its publishing operations in a bid to become profitable again.
- For nearly three decades, these on-call experts have been dishing advice on how to – and not to – cook turkey.
Data is a real-time snapshot *Data is delayed at least 15 minutes