Monday, December 5, 2011

US STOCKS SNAPSHOT-Dow, S&P futures open up after strong week

NEW YORK (Dec 4): Dow and S&P index futures opened higher on Sunday, suggesting the previous week's rally -- the biggest in almost three years -- could be extended in the coming week.

The gains in the week came on the U.S. unemployment rate unexpectedly dropping to a 2-1/2-year low, as well as some encouraging signs over Europe's continuing debt crisis.

Europe will continue to be a market driver in the coming sessions, and an upcoming European Union summit aimed at solving the crisis could be a catalyst for losses if it disappoints investors.

S&P 500 futures rose 9.5 points and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract.

Dow Jones industrial average futures added 45 points. - Reuters

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