Warren Buffett“A public opinion poll is no substitute for thought.”
Adlin Sinclair“Success is a welcomed gift for the uninhibited mind.”
Stock futures higher after China exports rise (AP)
are rising, pointing to a higher opening Monday, following strong gains in overseas markets.
Stocks are getting a lift globally after a new report showed Chinese exports jumped by nearly 18 percent in December. The bigger-than-expected increase follows 13 straight months of declines. The increase in exports has added confidence to investors who believe a global economic rebound is well under way.
Investors are set to buy into the market ahead of the start of earnings season. Alcoa Inc. kicks off the flood of reports that will provide insight into how fast the economy is recovering. The aluminum company reports results after the market closes.
Ahead of the opening bell,
futures rose 37, or 0.4 percent, to 10,603. Standard & Poor’s 500 index futures rose 4.50, or 0.4 percent, to 1,146.10, while Nasdaq 100 index futures climbed 5.50, or 0.3 percent, to 1,895.50.
The upbeat report from China has also bolstered commodity prices. Gold and oil are both sharply higher. Oil rose $1.12 to $83.87 a barrel, while gold is up $19.60 to $1,158.50 an ounce.
Stocks are looking to build on a strong first week to the new year. The Dow advanced 1.8 percent, the
jumped 2.7 percent and the
added 2.1 percent last week.
Investors brushed off a disappointing report on employment Friday, sending stocks modestly higher to close out the week. The
said employers cut 85,000 jobs in December, far more than the 8,000 cuts forecast by economists polled by Thomson Reuters. The worse-than-expected report was somewhat offset by a revision that showed companies added 4,000 jobs in November, the first gains in nearly two years.
’s rise during the first week of the year is a promising sign for things to come. The
has posted full-year gains 31 of the last 36 times the index rose during the first week of the year, according to the Stock Trader’s Almanac.
Meanwhile, bond prices were little changed Monday. The yield on the benchmark 10-year Treasury note, which moves opposite its price, was unchanged at 3.84 percent compared with late Friday. The yield on the three-month T-bill, considered one of the safest investments, rose to 0.05 percent from 0.04 percent.
The dollar fell against other major currencies.
Overseas,
rose 0.5 percent. Japan’s market was closed for a holiday.
Britain’s FTSE 100 rose 0.8 percent,
gained 0.7 percent, and France’s CAC-40 climbed 0.9 percent.