NEW YORK (CNNMoney.com) -- Stocks were poised to open higher Monday as the health care bill passed an important test vote in the Senate.
The Dow Jones industrial average, Nasdaq-100 and S&P-500 futures were all higher on Monday morning. Futures measure current index values against their perceived future performance and offer an indication of how markets may open when trading begins.
Stocks finished higher on Friday after a choppy session, with technology shares rebounding. But most indexes fell over the final full week of trade in 2009.
Peter Cardillo, chief market economist for Avalon Partners, said that part of the optimism on Monday comes from the healthcare bill, which had "cleared a major hurdle and is going for a vote as early as Christmas Eve."
The Senate voted to end debate on revisions to the bill, a key step towards finalization of the controversial legislation.
Companies. Citadel Broadcasting Co., the nation's third-largest radio group, filed for Chapter 11 bankruptcy on Sunday. The company, which has stations in 25 states, listed liabilities of $2.5 billion on assets of $1.4 billion, according to court papers filed in the Southern District of New York.
More than 60% of Citadel's secured lenders backed the pre-negotiated bankruptcy, which will allow Citadel to clear $1.4 billion of debt and convert $2.1 billion of its secured credit facility into a new term loan. The three largest unsecured creditors were JPMorgan Chase (JPM, Fortune 500), Wilmington Trust Corp. (WL), and the Walt Disney Co. (DIS, Fortune 500), according to Sunday's filing.
Spyker, a Dutch automaker, said Sunday it had made a new offer to General Motors for the Swedish car brand Saab. GM had announced on Friday that it would let the car brand die after failing to reach a deal with potential buyers, including Spyker and Swedish carmaker Koenigsegg.
Spyker's offer is set to expire on Monday at 5 p.m. ET.
Economy. No economic reports are scheduled for release Monday.
World Markets. European indexes were higher in midday trading.
Currency and commodities. The dollar was mixed against its major international rivals Monday. The greenback was slightly lower against the euro and the yen, but higher against the pound.
Crude oil for January delivery rose 24 cents to $73.60 a barrel.
Gold for February delivery rose $2.80 to $1,114.30.
Overnight Avg Rate | Latest | Change | Last Week |
---|---|---|---|
30 yr fixed | 3.80% | 3.88% | |
15 yr fixed | 3.20% | 3.23% | |
5/1 ARM | 3.84% | 3.88% | |
30 yr refi | 3.82% | 3.93% | |
15 yr refi | 3.20% | 3.23% |
Today's featured rates:
Index | Last | Change | % Change |
---|---|---|---|
Dow | 32,627.97 | -234.33 | -0.71% |
Nasdaq | 13,215.24 | 99.07 | 0.76% |
S&P 500 | 3,913.10 | -2.36 | -0.06% |
Treasuries | 1.73 | 0.00 | 0.12% |
Company | Price | Change | % Change |
---|---|---|---|
Ford Motor Co | 8.29 | 0.05 | 0.61% |
Advanced Micro Devic... | 54.59 | 0.70 | 1.30% |
Cisco Systems Inc | 47.49 | -2.44 | -4.89% |
General Electric Co | 13.00 | -0.16 | -1.22% |
Kraft Heinz Co | 27.84 | -2.20 | -7.32% |
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