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 * Reports last week indicating strength in the U.S. labor market and
a recovery in the manufacturing sector did little to change
expectations for interest rate hikes by the Federal Reserve in 2016.
* Traders expect only one hike this year, according to the CME
Group's FedWatch program, after Federal Reserve Chair Janet Yellen
last week urged caution on raising rates.
* Yellen's comments contrast those of some policymakers who have
called for a more aggressive plan to normalize rates.
* Investors will parse comments by Fed officials slated to speak on
Monday, including Minneapolis Fed President Neel Kashkari and Boston
Fed President Eric Rosengren, for clues on the central bank's
thinking on monetary policy.
* Lower crude prices added to the uncertainty as hopes of top oil
producers reaching a deal to help tackle a stubborn global glut
faded. [O/R]
* A seven-week rally helped Wall Street recover from a steep selloff
at the start of the year caused by slump in oil prices and worries
about a global slowdown. The S&P 500 is up marginally for the year.
* Data on Monday is expected to show factory orders fell 1.7 percent
in February, after rising 1.6 percent the previous month. The report
is due at 10 a.m. ET.
* Shares of Virgin America surged 36 percent to $52.75 in premarket
trading, after the company agreed to be bought by Alaska Air for
about $2.60 billion. Alaska Air shares were down 2.5 percent at
$79.94.
* Tesla rose 4.8 percent to $248.99 after the electric carmaker said
orders for its new Model 3 sedan rose than 253,000 in the first 36
hours.
[to top of second column] |
* Edwards Lifesciences rose 7.9 percent to $89.92 after a study
showed a less-invasive implant of a heart valve was superior to open
surgery, prompting a slew of brokerages to raise their ratings on
the stock.
Futures snapshot at 6:52 a.m. ET:
* Dow e-minis were up 25 points, or 0.14 percent, with 31,245
contracts changing hands.
* S&P 500 e-minis were up 4.75 points, or 0.23 percent, with
188,742 contracts traded.
* Nasdaq 100 e-minis were up 9.5 points, or 0.21 percent, on
volume of 21,872 contracts.
(Reporting by Abhiram Nandakumar in Bengaluru; Editing by Anil
D'Silva)
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