futures track rise in global equities, oil
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[May 25, 2016]
By Tanya Agrawal
(Reuters) - U.S. stock index futures were
higher on Wednesday, mirroring global equities, as oil prices rose and
investors got more comfortable with the prospect of interest rate hike
as early as this summer.
* Easing concerns over several major global risks helped stock
markets worldwide rise robustly for a second day. Traders say
several polls show Britain will vote strongly to stay in the
* Euro zone finance ministers agreed with Greece and the
International Monetary Fund on a deal that will address Athens'
requests for debt relief.
* Oil rose toward $50 a barrel on Wednesday for the first time in
seven months, driven by expectations that shrinking supply will help
erode any overhang of unwanted crude.
* U.S. stocks surged more than 1 percent on Tuesday and the Nasdaq
had its strongest day in three months.
* So far in 2016, the S&P 500 is up about 2 percent and the Nasdaq
is down 3 percent.
* Traders are now pricing in a 37.5 percent chance for a June rate
hike, up from just 4 percent last week, according to CME Group's
* Fed speakers scheduled to speak later on Wednesday include Federal
Reserve Bank of Philadelphia President Patrick Harker, Minneapolis
Fed Chief Neel Kashkari and Dallas Fed Chief Robert Kaplan.
* Shares of Computer Sciences soared 24.8 percent to $44.49 in
premarket trading after Hewlett Packard Enterprise said it would
spin off and merge its struggling IT services business with the
company. Hewlett Packard Enterprise was up 9.8 percent at $17.85.
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* Tiffany fell 4.4 percent to $61.05 after reporting its steepest
sales drop in six quarters and forecasting a fall in its full-year
* Sarepta Therapeutics jumped 15.2 percent to $21.25 after the FDA
delayed its decision on the company's muscle-wasting drug.
* Apparel retailer Express slumped 15.8 percent to $13.50 after its
results missed expectations.
Futures snapshot at 7:09 a.m. ET (1109 GMT):
* S&P 500 e-minis were up 7.25 points, or 0.35 percent, with
169,549 contracts traded.
* Nasdaq 100 e-minis were up 18.5 points, or 0.42 percent, on volume
of 21,027 contracts.
* Dow e-minis were up 60 points, or 0.34 percent, with 21,224
contracts changing hands.
(Reporting by Tanya Agrawal; Editing by Anil D'Silva)
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