Global stock in­dex fu­tures sig­nal slightly higher open

The Pak Banker - - Front Page -

LON­DON

Stock in­dex fu­tures pointed to a higher open on Wall Street on Tues­day, with fu­tures for the S&P 500, the Dow Jones and the Nas­daq 100 ris­ing 0.1 to 0.2 per­cent.

Mar­ket sen­ti­ment im­proved af­ter Euro zone fi­nance min­is­ters and the In­ter­na­tional Mon­e­tary Fund clinched agree­ment late on Mon­day on re­duc­ing Greece's debt in a break­through to re­lease ur­gently needed loans to keep the near-bank­rupt econ­omy afloat.

The Com­merce De­part­ment re­leases Oc­to­ber durable goods or­ders at 8.30 a.m. ET. Econ­o­mists ex­pect a 0.6 per­cent fall in or­ders in Oc­to­ber, against a 9.8 per­cent rise in Septem­ber.

Cono­coPhillips'

part­ners in Kaza­khstan's Kasha­gan field have 60 days to ex­er­cise pre-emp­tion rights to pre­vent In­dia's ONGC Videsh from buy­ing an 8.4 per­cent stake in the project held by the US com­pany, the In­dian firm's man­ag­ing di­rec­tor said.

ICSC/Gold­man Sachs re­lease chain store sales for the week ended Novem­ber 24 at 7.45 a.m. ET. In the pre­vi­ous week, sales fell 0.3 per­cent.

Red­book re­leases its Re­tail Sales In­dex of de­part­ment and chain store sales for Novem­ber at 8.55 a.m. ET. In the prior pe­riod, sales were un­changed.

Stan­dard & Poor's re­leases its S&P Case/Shiller Home Price In­dex for Septem­ber at 9 a.m. ET. Econ­o­mists ex­pect an ad­justed 20 city in­dex to rise 0.4 per­cent, ver­sus a 0.5 per­cent in­crease in the previ- ous month.

Europe is pre­par­ing to fol­low the United States in de­lay­ing the in­tro­duc­tion of stricter rules on bank cap­i­tal, while it lob­bies for a re­think of the U.S. stance, EU sources said.

How­ever, the head of the Basel Com­mit­tee at the Bank of In­ter­na­tional Set­tle­ments told Reuters on Tues­day that the in­tro­duc­tion of stricter cap­i­tal rules for banks will go ahead as planned on Jan­uary 1.

Fed­eral Re­serve Bank of Chicago re­leases its Chicago Fed Mid­west Man­u­fac­tur­ing In­dex for Oc­to­ber at 8.30 a.m. ET. The in­dex read 93.4 in the prior month.

Con­fer­ence Board re­leases Novem­ber con­sumer con­fi­dence at 10 a.m. ET. Econ­o­mists ex­pect a read­ing of 73.0, com­pared with 72.2 in Oc­to­ber.

The Fed­eral Hous­ing Fi­nance Agency is­sues its Home Price In­dex for Septem­ber at 10 a.m. ET. In the prior month, the in­dex rose 0.7 per­cent.

Euro­pean stocks (.FTEU3) rose 0.5 per­cent on Tues­day, re­cov­er­ing af­ter weak­ness in the pre­vi­ous ses­sion. US stocks slipped on Mon­day af­ter post­ing their best week in over five months as in­vestors re­acted to a lack of vis­i­ble progress in bud­get deficit dis­cus­sions in Washington.

The Dow Jones in­dus­trial av­er­age (^DJI) fell 77.92 points, or 0.60 per­cent, to 12,931.76. The S&P 500 In­dex (^GSPC) dropped 6.99 points, or 0.50 per­cent, to 1,402.16. The Nas­daq Com­pos­ite In­dex (^IXIC) shed less than a point at 2,966.75.

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