Stocks set to rise at open

By CNNMoney.com staff


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.  To top of page

Just the hot list include
Frontline troops push for solar energy
The U.S. Marines are testing renewable energy technologies like solar to reduce costs and casualties associated with fossil fuels. Play
25 Best Places to find rich singles
Looking for Mr. or Ms. Moneybags? Hunt down the perfect mate in these wealthy cities, which are brimming with unattached professionals. More
Fun festivals: Twins to mustard to pirates!
You'll see double in Twinsburg, Ohio, and Ketchup lovers should beware in Middleton, WI. Here's some of the best and strangest town festivals. Play
Overnight Avg Rate Latest Change Last Week
30 yr fixed3.80%3.88%
15 yr fixed3.20%3.23%
5/1 ARM3.84%3.88%
30 yr refi3.82%3.93%
15 yr refi3.20%3.23%
Rate data provided
by Bankrate.com
View rates in your area
 
Find personalized 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%
Data as of 6:29am ET
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%
Data as of 2:44pm ET

Sections

Bankrupt toy retailer tells bankruptcy court it is looking at possibly reviving the Toys 'R' Us and Babies 'R' Us brands. More

Land O'Lakes CEO Beth Ford charts her career path, from her first job to becoming the first openly gay CEO at a Fortune 500 company in an interview with CNN's Boss Files. More

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.