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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Market Morning: Rising Oil

NEW YORK (TheStreet) -- U.S. stock futures suggested Wall Street would open with slight gains on Friday as oil prices crossed $108 a barrel.

European shares were up slightly, while Asian stocks finished with gains. Japan's Nikkei 225 rose 0.5% to close at 9,647.38.

In the U.S. on Thursday, stocks closed up as data showed surprising resilience in German business confidence and as U.S. jobless claims remained flat.

The Dow Jones Industrial Average gained 46.1 points, 0.4%, to 12,984.8. The S&P 500 rose 5.8 points, or 0.4%, to 1363.5. The Nasdaq finished higher by 23.8 points, or 0.8%, at 2957.

Benchmark crude for April delivery jumped 66 cents to $108.49 in electronic trading on the New York Mercantile Exchange. It has increased for seven straight days as tension over Iran's nuclear program escalates threatening supply, and on signs of an improving U.S. economy.


The economic calendar Friday in the U.S. features the final read on consumer sentiment for February from the University of Michigan at 9:55 a.m. EST, and new-home sales for January at 10 a.m.


Apple (AAPL) was sued in California by the Chinese company that claims it owns the iPad name.

Proview Electronics filed a lawsuit against Apple's use of the trademark in mainland China. Proview accuses Apple of employing deception when buying the trademark.


Volkswagen, the world's second-largest automaker, said Friday that earnings in 2011 more than doubled as revenue rose almost 26% to €159.3 billion.

Volkswagen earned €15.41 billion ($20.5 billion) in 2011, up from €6.84 billion the previous year.

Operating profit rose 58% to €11.27 billion, below the average estimate of €11.36 billion in a Reuters poll.


J.C. Penney (JCP), the department store giant, is expected by analysts Friday to earn 68 cents a share on revenue of $5.5 billion.


Newmont Mining (NEM) is seen posting profit of $1.27 a share on revenue of $2.74 billion.


-- Written by Joseph Woelfel

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
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!
DOW 16,933.93 -149.87 -0.88%
S&P 500 1,978.19 -9.79 -0.49%
NASDAQ 4,447.5990 -24.5090 -0.55%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

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