Wall
Street to rise as energy shares track oil rebound
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[December 15, 2014]
By Rodrigo Campos
NEW YORK (Reuters) - U.S. stocks were set
to rise at the open on Monday, following the worst week for the S&P 500
in more than two years, with investors focused on crude oil prices which
earlier hit a fresh 5-1/2-year low.
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Stocks in the energy sector are likely to rise as Brent <LCOc1> and
U.S. crude <CLc1> rebounded, but futures gave up some of their gains
as crude prices also trimmed their advance. The Select Sector Energy
SPDR exchange-traded fund <XLE.P> gained 0.7 percent in premarket
trading.
The New York Federal Reserve's gauge of area manufacturing turned
negative for the first time in almost two years. The Fed's gauge of
industrial output and capacity utilization is due at 9:15 a.m. (1415
GMT).
Shares of pet supply retailer PetSmart <PETM.O> rose 4.8 percent in
premarket trading after it agreed to be bought by a private equity
consortium led by BC Partners Ltd for $8.7 billion, in the largest
leveraged buyout of the year.
Workers at Amazon <AMZN.O> warehouses in Germany began a three-day
strike for better pay and work conditions as the online retailer
raced to ensure holiday orders are delivered on time. In early New
York trading, Amazon shares were bid slightly higher than the
stock's close on Friday.
Nasdaq <NDAQ.O> said Friday it would add American Airlines Group
<AAL.O>, Electronic Arts <EA.O> and Lam Research <LRCX.O> to the
Nasdaq 100 <.NDX>, and remove Expedia <EXPE.O>, F5 Networks <FFIV.O>
and Maxim Integrated Products <MXIM.O> from the index. Changes are
scheduled to take effect Dec. 22 before the market opens.
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Traders will keep an eye on Sydney, Australia, where police locked
down the center of the city after an armed man walked into a busy
cafe, took hostages and forced them to display an Islamic flag,
igniting fears of a jihadist attack.
(Editing by Bernadette Baum)
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