Stock index futures pushed higher Monday on news that China intends to end its currency’s fixed rate to the dollar, a move investors believe will boost Chinese demand for exports as well as commodities.
On Monday, China's yuan surged to a 21-month high on expectations that China will loosen its peg, soothing political tensions with the West and encouraging investors to snap up riskier assets.
The peg made China the target of criticism since China’s decision to lock in 2008, as the international community felt Beijing has enjoyed an unfair trade advantage during the global credit crunch.
Meanwhile, here's what guests on today's Squawk on the Street were watching before the opening bell:
Food and Energy
With geopolitical and economic issues intensifying around the globe — not to mention the growing number of possible black swans — Ron Weiner, President and CEO of RDM Financial Group, says caution is the key.
Be very selective in your positions and take a fairly conservative stance, he says. He likes long term trends like energy and food, specifically:
Blackrock Global Energy
This closed-end fund holds 63 stocks across the energy spectrum -- from pile-lines to drillers to natural gas. Weiner says it is a solid, diversified play.
This is one of many emerging market plays that has lots of room to grow, Weiner says. Its relatively attractive dividend yield and management have proven to be solid.
See more of what these and other analysts and money managers have to say, and get the latest financial news. Watch Squawk on the Street every weekday morning starting at 9 a.m. ET.
Your Daily Dashboard
Disclosure: Disclosure information was not immediately available.