Dow futures higher; S&P,
Nasdaq little changed
Send a link to a friend
[November 14, 2016]
By Tanya Agrawal
futures were higher on Monday, after the index capped off its best week
since 2011 following Donald Trump's unexpected victory in the U.S.
S&P 500 and Nasdaq futures were little changed. Since Trump's triumph
last Tuesday, investors have been betting on his campaign promises to
simplify regulation in the health and financial sectors and boost
spending on infrastructure.
The dollar index <.DXY> surged to an 11-month high as the risk of faster
domestic inflation and wider budget deficits if Trump goes on a spending
binge sent yields on U.S. Treasury and other benchmark global bonds
Yields on the U.S. 10-year Treasury notes climbed to their highest since
January on Monday at 2.30 percent <US10YT=RR>, while 30-year paper
touched 3 percent.
Investors are now keeping an eye on who will be appointed to
President-elect Trump's administration.
"Trump's transition will remain a big factor influencing financial
markets the weeks ahead, especially as he starts revealing the names of
people who will serve in his administration," said Hussein Sayed, chief
market strategist at FXTM.
A host of U.S. Federal Reserve speakers are scheduled to make
appearances on Monday including Dallas Fed President Rob Kaplan,
Richmond Fed President Jeffrey Lacker and San Francisco Fed President
Fed Chair Janet Yellen is scheduled to testify on the economic outlook
before the congressional joint economic committee in Washington on
The central bank is widely expected to raise interest rates at its
December meeting, with traders pricing in an 81 percent chance,
according to CME Group's FedWatch tool.
[to top of second column]
Traders work on the floor of the New York Stock Exchange (NYSE) in
New York City, U.S., November 10, 2016. REUTERS/Brendan McDermid
Fed Vice Chairman Stanley Fischer said on Friday economic growth
prospects appear strong enough for a gradual hike in interest rates.
Oil prices were at around three-month lows as the prospect of another
year of oversupply and weak prices overshadowed chances that OPEC would
reach a deal to cut output. [O/R]
Mentor Graphics surged 20.6 percent to $37 after Siemens agreed to buy
the company in a $4.5 billion deal.
Pfizer <PFE.N> was up 0.9 percent at $32.90 after a study showed that
the drugmaker's arthritis drug was shown to be at least as safe as the
widely used prescription-strength versions of painkillers ibuprofen and
(Reporting by Tanya Agrawal; Editing by Saumyadeb Chakrabarty)
[© 2016 Thomson Reuters. All rights
Copyright 2016 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.