Tuesday, March 29, 2011

US Stock Futures Rise Ahead Of Data, BP (NYSE: BP) Eyed

US stock-index futures rose on Tuesday as nvestors turned optimistic ahead of data on home prices and consumer confidence.  

At 8:22 am ET, the S&P 500 futures rose 3.40 points to 1305.60. The Dow Jones Industrial average futures advanced 22 points to 12,136. The Nasdaq Composite futures climbed 5 points to 2,300.75.

General Electric Co. (NYSE: GE)  announced today that its Energy business has entered into an agreement to acquire approximately 90 percent of Converteam, a leading provider of electrification and automation equipment and systems, from a controlling shareholder group that includes management, Barclays Private Equity and LBO France, for approximately $3.2 billion.

Meanwhile, Bloomberg reported that federal prosecutors are considering whether to pursue manslaughter charges against BP (NYSE: BP) managers for decisions made before the Gulf of Mexico oil well explosion last year that killed 11 workers and caused the biggest offshore spill in U.S. history.

On the economic front, Case-Shiller 20-city index will be released shortly before the opening bell. Consumer confidence data will be released at 10:00 am ET.

European stocks advanced in afternoon trade. At 12:20 pm, the UK FTSE rose 61.59 points or 1.06% to 5,587.47. The German DAX and French CAC increased 1.82% and 1.34% respectively.

Asian stocks finished lower. The Nikkei 225 fell 19.45 points or 0.21% to 9,459.08. The Hang Seng index of Hong Kong dropped 7.83 points or 0.03% to 23,060.36.

Full Disclosure: None.
Related Posts with Thumbnails

Wikinvest Wire