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
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

Stock Futures Rise as Retail Sales Jump

Stocks in this article: ^DJI^IXIC^GSPC


NEW YORK ( TheStreet) -- U.S. stock futures were suggesting a higher Wall Street open on Monday following Softbank's announcement it reached a deal to buy Sprint (S) for $20.1 billion and after earnings from Citigroup (C) topped expectations.

U.S. retail sales for September also rose more than forecast.

Futures for the Dow Jones Industrial Average were up 50 points to 13,295. Futures for the S&P 500 gained 7 points to 1,428.50. Futures for the Nasdaq were up 18 points to 2,728.

The Commerce Department said Monday that retail sales for September rose 1.1%; economists were expecting an increase of 0.8%, compared with a 0.9% increase in August, according to Reuters.

The FTSE 100 in London was up 0.5% and the DAX in Germany gained 0.8%. Japan's Nikkei average rose 0.5% to close at 8,577.93, snapping a four-day losing streak. Hong Kong's Hang Seng rose less than 0.1%.

China released data showing consumer prices for September rose 1.9% from a year earlier.

Gold for October delivery was down $12.20 to $1,745.80 an ounce.

November crude oil futures were down 1 cent to $91.85 a barrel.

The benchmark 10-year Treasury was trading at 1.68%. The dollar was down marginally, according to the dollar index.

In corporate news, Softbank reached a deal Monday to acquire a 70% stake in Sprint Nextel (S) for $20.1 billion.

The deal is expected to be completed by the middle of 2013.

Sprint is the No. 3 wireless provider, behind AT&T (T) and Verizon Wireless. The deal will give Sprint more capital to use to compete against its much bigger rivals.

Sprint shares were trading at $5.90, up 3%, in premarket trading Monday

Citigroup (C), the third-largest U.S. bank, posted third-quarter profit of 15 cents a share. Excluding items, operating profit was $1.06 a share, beating the consensus estimate of 96 cents.

Net revenue came in at $19.4 billion, excluding CVA/DVA.

Citigroup was rising 2% to $35.52.




-- Written by Joseph Woelfel



>To contact the writer of this article, click here: Joseph Woelfel

Copyright 2012 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. AP contributed to this report.

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 17,810.06 +91.06 0.51%
S&P 500 2,063.50 +10.75 0.52%
NASDAQ 4,712.97 +11.1030 0.24%

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