Wall Street set for a bounce

By CNNMoney.com staff


NEW YORK(CNNMoney.com) -- U.S. stocks were poised for early gains Monday as investors looked to recover from last week's big pullback.

The Dow Jones industrial average, Standard & Poor's 500 and Nasdaq-100 futures were higher.

The average taxpayer got a refund of $2,753 last year. How do you think your 2009 tax bill will compare?
  • I'll get a refund of at least $2,700
  • I'll get a refund, but less than $2,700
  • I'll owe less than $2,700
  • I'll owe more than $2,700

Futures measure current index values against perceived future performance and offer an indication of how markets may open when trading begins.

"It looks like a strong bounce back," said David Jones, chief market strategist at IG Markets in London. "This might be a feeling that the sell-off in banks might have gone too far. There may be a feeling that the pessimism may have been overdone on Friday."

Stocks on Wall Street plunged last week, turning in their worst week in nearly a year, after President Obama proposed new limits on banks. The Dow, which sank 4%, had its worst week since March 6, 2009.

Earnings: Fourth-quarter earnings will be in focus this week, with tech giant Apple (AAPL, Fortune 500) due to report results after U.S. markets close Monday.

Other companies on tap to report quarterly results include Johnson & Johnson (JNJ, Fortune 500), Yahoo (YHOO, Fortune 500) and Microsoft (MSFT, Fortune 500).

Federal Reserve: U.S. central bankers meet Tuesday and Wednesday and are widely expected to leave interest rates unchanged at near zero.

Many economists doubt the Fed will offer new details about when it plans to start raising rates or withdrawing its stimulus programs, but investors nonetheless will scrutinize its policy statement for any clues.

World markets: Sentiment was downbeat in Asia, where Japan's Nikkei tumbled 0.7%. Major European indexes were mostly higher at midday.

Cash and bonds: The dollar was lower against most major international currencies, but rose against the yen. The price dropped on the 10-year note, driving up the yield to 3.63%.

Oil and gold: The price of oil rose 28 cents to $74.82. The price of gold rose $10.60 to $1,100.30 per troy ounce.

Were you placed in a HAMP trial modification but denied a permanent modification? What are you doing now? If you are in this situation, please send an email to realstories@cnnmoney.com. You could be profiled in an upcoming story. For the CNNMoney.com Comment Policy, click here.  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 fixed3.93%4.03%
15 yr fixed3.22%3.27%
5/1 ARM3.87%3.80%
30 yr refi3.94%4.04%
15 yr refi3.22%3.27%
Rate data provided
by Bankrate.com
View rates in your area
 
Find personalized rates:
Index Last Change % Change
Dow 26,087.98 -1.63 -0.01%
Nasdaq 7,845.66 49.00 0.63%
S&P 500 2,890.73 3.75 0.13%
Treasuries 2.09 -0.00 -0.19%
Data as of 9:49am ET
Company Price Change % Change
Facebook Inc 185.12 3.79 2.09%
Advanced Micro Devic... 30.18 -0.18 -0.59%
Amcor PLC 10.73 -0.20 -1.83%
General Electric Co 10.18 -0.05 -0.49%
Bank of America Corp... 27.87 -0.17 -0.61%
Data as of 9:32am 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.