This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

U.S. Stocks Set to Tick Higher

Stocks were set to climb at the open Monday as a battered Wall Street attempted a modicum of recovery from the giant selloff in the previous session.

S&P 500 futures were up 4 points to 1363 and were more than 2 points above fair value. Futures on the Nasdaq 100 bumped up 7 points to 1996 and were nearly 5 points ahead of fair value.

Last time out, stocks were caught in a landslide as oil prices rampaged higher by more than $10 a barrel to a new record and the Labor Department said the unemployment rate jumped last month.

At the end of the day, the Dow Jones Industrial Average had plummeted 395 points to 12,210, and the S&P 500 sank 43 points to 1361. The Nasdaq Composite lost 75 points to 2475.

Crude oil futures remained at extraordinarily high levels in the new session, but saw a bit of profit-taking amid news that Saudi Arabian oil minister Ali al-Naimi has called Friday's giant gains "unjustified," according to the Saudi Press Agency. Recently, oil was off $1.94 to $136.60 a barrel.

Further, the nationwide average for gas prices at the pump hit the $4 milestone on Sunday, according to AAA, and recently they were at yet another all-time high of $4.023 a gallon.

Gold futures were adding $6.60 to $905.60 an ounce. The U.S. dollar lost 0.2% against the euro to $1.5797 and 0.5% to the yen at 105.58.

Among companies, Lehman Brothers (LEH) announced plans to raise $6 billion through an offering for common and preferred stock, and said it expects to post a fiscal second-quarter loss of $2.8 billion, or $5.14 a share. Word of a cash-raising and a big loss has been circulating since last week. Shares were sliding in the premarket.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,164.95 -251.90 -1.45%
S&P 500 1,994.99 -26.26 -1.30%
NASDAQ 4,635.24 -48.1670 -1.03%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs