GO
Loading...

Futures Lifted by Dubai, Big Deal News

Stock index futures pointed to a positive open for Wall Street on Monday as investors cheered news that Abu Dhabi would provide $10 billion of surprise aid to neighbor Dubai.

Futures also were lifted by some early deal news.

ExxonMobil will acquire XTO Energy in an all-stock deal worth $41 billion that includes $10 billion in debt.

ExxonMobil shares slipped 1 percent but XTO gained 21 percent in premarket trading.

In financial news, Citigroup is reportedly closer to a deal with the government that would allow it to repay over $10 billion of its bailout money. Shares in Citigroup rose 1.5 percent in Frankfurt.

Meanwhile, Morgan Stanley said on Sunday it has hired former Merrill Lynch President and Chief Operating Officer Gregory Fleming to run its investment management unit.

Britain's Cadburysaid it has interest from other bidders after raising its growth targets and reporting upbeat trading as it dismissed a $16.5 billion bid from Kraft Foods .

Google announced plans to sell its own mobile phone direct to consumers as soon as next year, bypassing wireless operators in a rare strategic move, the Wall Street Journal cited sources as saying on Saturday.

Amazon.com shares slipped 1.2 percent premarket after Barron's praises the company's operations but said its stock was too pricey.

Visa shares jumped more than 4 percent after Robert W. Baird upgraded the company's stock to "outperform" from "neutral."

Winterizing Your Portfolio - A CNBC Special Report
Winterizing Your Portfolio - A CNBC Special Report

And Accenture on Sunday said it would be ending its six-year sponsorship arrangement with golfer Tiger Woods, who is entangled in a scandal involving extramarital affairs.

Elsewhere, President Obama is to meet with executives of top U.S. banks to push them to step up small-business lending and back legislation to overhaul regulations for the sector.

In an interview with the CBS' "60 Minutes" on Sunday, Obama condemned the bonuses bankers are receiving, saying: "I did not run for office to be helping out a bunch of fat cat bankers on Wall Street."

After the meeting with the bankers, scheduled to start at 11:10 am New York time, Obama will make a public statement about the economy, the White House said.

The Federal Reserve starts a two-day meeting on Tuesday and is likely to keep rates unchanged near zero. But the key factor will be whether the Fed will reiterate its dovish bias.

Symbol
Price
 
Change
%Change
ACN
---
AMZN
---
C
---
MDLZ
---
MS
---
V
---
GOOGL
---
XOM
---