STOCKS NEWS-Futures soar after euro zone rescue plan

Real-time equity news U.S. stock market report 0727 ET 10May2010-Futures soar after euro zone rescue plan ------------------------------------------------------------------------------ U.S. stock index futures soared on Monday, and the S&P 500 could open 4 percent higher, after leaders in Europe agreed to a $1 trillion emergency rescue package that sent the euro and European stocks surging. For details, see S&P 500 futures rose 52.3 points and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures shot up 400 points, and Nasdaq 100 futures gained 81.25 points. Reuters Messaging: [e-mail] 0722 ET 10May2010-Exchanges summoned to D.C. after market plunge ------------------------------------------------------------------------------ The heads of leading U.S. stock market operators have been called to Washington for an emergency meeting on Monday, days after a spine-chilling plunge in stock prices continued to perplex U.S. regulators. The meeting, called by Securities and Exchange Commission Chairwoman Mary Schapiro, is to address whether levers need to be added in trading systems to halt sudden plunges in individual stocks, a source familiar with an investigation into the events said. Exchange chiefs are also set to face Congressional hearings on Tuesday, the source said. For details, see Reuters Messaging: [e-mail] 0716 ET 10May2010-BP says oil spill has cost it $350 mln so far ------------------------------------------------------------------------------ BP Plc said the oil spill in the Gulf of Mexico had cost it $350 million so far, suggesting the final bill could be much higher than many analysts predicted. The oil company said in a statement on Monday the sum referred to the cost of spill response, containment efforts, relief well drilling, payments to the Gulf Coast States to speed up their response plans, some compensation claims and federal costs. For details, see U.S.-listed shares of BP rose 1.7 percent to $49.88 in premarket trading. Reuters Messaging: [e-mail] 0710 ET 10May2010-Barron's sees good upside to J&J shares ------------------------------------------------------------------------------ Shares of Johnson & Johnson may come under pressure in the short term following the recent recall of its pediatric Tylenol and other products, but the company's long-term prospects remain "sound," Barron's wrote in its May 10 edition. The financial publication wrote that J&J, a Dow component, has a diversified set of businesses, a strong balance sheet and a promising product pipeline. For details, see J&J shares closed Friday at $63.31. Reuters Messaging: [e-mail] 0707 ET 10May2010-Economic indicators for May 10 ------------------------------------------------------------------------------ The only economic indicators on tap for Monday is the Conference Board's April employment trends index. Reuters Messaging: [e-mail] 0657 ET 10May2010-Earnings diary for May 10 ------------------------------------------------------------------------------ Companies scheduled to report quarterly results on Monday include Legg Mason Inc, Dean Foods Co, Fluor Corp and Tyson Foods Inc , among others. Reuters Messaging: [e-mail] Keywords: MARKETS STOCKSNEWS COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved.

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