U.S. stock futures kick
off new year on a high as oil surges
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[January 03, 2017]
By Yashaswini Swamynathan
jump in oil prices and upbeat data from China lifted U.S. stock index
futures on the first trading day of the new year, with Dow futures
advancing by triple-digit points.
* After coming within a hair's breadth of the historical 20,000 mark in
December as part of a post-election rally, the Dow is likely to make a
fresh attempt at breaching the milestone on Tuesday.
* The index rose 13.4 percent in 2016, its best performance in three
* Brent crude prices rose more than 2 percent to $58 on Tuesday after a
deal among major producers to limit oversupply came into effect on
* China's factory activity picked up more than expected in December
giving the manufacturing sector a solid boost heading into 2017,
according to a private business survey.
* The dollar index was on a tear, notching its best day in nearly three
weeks at 103.42, while higher inflation data in Europe sent world stocks
* With just over two weeks before President-elect Donald Trump takes
office, investors will be watching his words to see what policy changes
* The markets closed lower on Friday but marked solid gains for the
year, surging after Trump victory on bets that he would introduce market
friendly policies such as tax cuts and simpler regulation.
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A trader at the New York Stock Exchange (NYSE) in Manhattan, New
York City, U.S., December 30, 2016. REUTERS/Stephen Yang
* Data on tap includes the ISM Manufacturing Purchasing Manufacturer's
index (PMI) which is expected to have edged up to 53.6 in December from
53.2 in the previous month. The report is due at 10:00 a.m. ET.
Technology stocks including Ebay, Micron Tech, Amazon.com and Facebook
were primed for gains
* Bank of America, JPMorgan, Goldman Sachs and Wells Fargo were up
between 0.9 percent and 2 percent after Barclays raised its price targets on the
Futures snapshot at 6:55 a.m. ET:
* Dow e-minis were up 146 points, or 0.74 percent, with 24,062 contracts
* S&P 500 e-minis were up 18.25 points, or 0.82 percent, with 124,453 contracts
* Nasdaq 100 e-minis were up 39.75 points, or 0.82 percent, on volume of 19,882
(Reporting by Yashaswini Swamynathan in Bengaluru; Editing by Saumyadeb
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