Futures Rise as U.S. Avoids Shutdown
NEW YORK ( TheStreet) -- Stock futures were pointing to a higher open Monday after lawmakers reached a budget agreement to prevent a government shutdown, and the market looked ahead to the start of earnings season with Alcoa (AA) results due after the bell.
Futures for the Dow Jones Industrial Average were up by 10 points, or 13 points above fair value, at 12,336. Futures for the S&P 500 were higher by 1 point, or nearly 1 point above fair value, at 1325. Nasdaq futures were ahead by 4 points, or nearly 4 points above fair value.
Stocks dropped Friday after oil topped $112 a barrel and the market anticipated a government shutdown.Late Friday, President Barack Obama and congressional leaders were able to agree to a plan that would lower spending by $39 billion, funding government operations for the next six months.
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