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CNBC ON DIGG

Futures Rise After G20 Stimulus Pledge

Published: Monday, 9 Nov 2009 | 6:06 AM ET

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By: CNBC.com

Wall Street opens the new trading week coming off its best weekly performance in a month, with U.S. stock index futures pointing to a solidly positive opening Monday.

Global stocks rose and the dollar fell after the Group of 20 pledged to keep stimulus in place until recovery was assured.

FOR INVESTORS...

Futures also responded positively to developments in the corporate world.

Sprint Nextel [S Loading... () ] said it will invest at least another $1 billion into Clearwire [CLWR Loading... () ], a company in which it is joint partners with Comcast [CMCSA Loading... () ], Intel [INTC Loading... () ], Time Warner Cable [TWC Loading... () ] and Bright House Networks. The partners are prepared to spend another $500 million, according to a report in the Wall Street Journal.

The paper also reported that Google, which also is a partner, isn't involved in the latest financing round.

Sprint shares jumped 3.9 percent in premarket trading.

Altria [MO Loading... () ] shares also were higher, gaining 1.7 percent after Barron's wrote that the tobacco products company was a bargain because of its low multiple, high yields and strong brands.

Las Vegas Sands [LVS Loading... () ] shares rose 2.8 percent after the company and China's Minsheng bank set the price range for the upcoming public offering on the Hong Kong exchange. They hope to raise $7.35 billion with the offering.

Shares of retailer Gap [GPS Loading... () ] fell nearly 1 percent premarket after Barclays downgraded the company to "equal weight" from "overweight" over concerns on November sales.

Crude oil prices [US@CL.1 Loading... () ] rose more than a $1 to pass $78 a barrel as Hurricane Ida posed a threat to oil and gas facilities in the US.

As the end of the year approaches, more attention will be paid to just how strongly stocks have come back from the depths they reached back in March: Both the Nasdaq and the S&P 500 are on pace to chalk up their best annual percentage gains since 2003.

No major economic releases are on the calendar for Monday.

The Treasury begins another record-setting week of auctions, as it sells $91 billion in 3-year notes, 10-year notes, and 30-year bonds beginning. Shortly after 1 pm New York time, we'll get the results of the first leg of those sales, with $40 billion in 3-year notes being sold.

The most notable of the day's earnings reports will come after the bell, as we get the latest quarterly numbers from Electronic Arts [ERTS Loading... () ] , Fluor [FLR Loading... () ] , MBIA [MBI Loading... () ] , and Priceline.com [PCLN Loading... () ] .