Stocks Seen Opening Higher, Data Awaited


By Michael Flaherty NEW YORK (Reuters) - U.S. stock futures rose on Friday, spurred by lower oil prices and Intel Corp.'s (INTC.O: Quote , Profile , Research ) higher sales forecast as Wall Street waited for monthly employment data for clues about the economy's health. Intel, the world's largest maker of microchips, late on Thursday raised its quarterly revenue target, saying demand for personal computers and servers was driving sales higher. The news lifted shares of semiconductor stocks and provided a boost for equity markets in Asia and Europe. Shares of Intel rose $1.84, or 8.1 percent, to $24.55 before the bell on the Inet electronic brokerage. S&P 500 futures were up 5.3 points, above fair value accounting for interest rates, dividends and time to expiration on the contract. The rise signaled a higher open for stocks. Dow Jones industrial index futures rose 35 points, while Nasdaq 100 futures surged 13.5 points. "We've seen a huge relief in oil prices," said Hilary Cook, director of investment strategy at Barclays Stockbrokers. "Intel is also helping the market. But the key today will be the jobs report." Nonfarm payrolls data, due at 8:30 a.m., is expected to show U.S. employers added 180,000 jobs in November, according to economists surveyed by Reuters. The figure would be down from 337,000 a month ago but still a sign that the economy is expanding. The unemployment rate is seen falling to 5.4 percent from 5.5 percent in October. Oil prices remained weak after a $6 slump over two days caused by relief about adequate winter supplies. U.S. crude oil futures (CLc1: Quote , Profile , Research ) fell 14 cents to $43.11 a barrel in electronic trading overnight. Declining oil prices have reassured investors worried that higher energy prices would pinch corporate profits and hurt consumer spending. Continental Airlines Inc. (CAL.N: Quote , Profile , Research ) said it expects to take $19 million in fourth-quarter charges for future lease payments and return conditions for aircraft retirements. The No. 5 U.S. airline made the forecast in a filing. In other corporate news, International Business Machines Corp. (IBM.N: Quote , Profile , Research ) may be active after the New York Times reported the company is putting its personal computing business up for sale in a deal that could be worth as much as $2 billion. Shares of IBM rose $1.51, or 1.6 percent, to $97.27 on Inet.     Continued ...
Quelle "Stocks Seen Opening Higher, Data Awaited" : reuters.com

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