Futures for U.S. stock markets were higher late Monday evening as investors continued to see a potential rate rise as good for the economy and, possibly, even good for equities.
At 9:14 p.m. EDT, the S&P 500 was up 0.06%, the Dow Jones Industrial Average, 0.05%, and the Nasdaq turned in a 0.07% increase.
The higher futures follow an up day on Wall Street after financial shares, the most likely to benefit from a rate rise, pulled indices higher. Federal Reserve chair Janet Yellen said Friday during a meeting of central bankers in Jackson Hole, Wyo., that signals were pointing toward a rate increase. Other Fed officials over the weekend indicated that the increase may come as early as next month.
Investors shrugged off fears the increase could have the same negative impact as last December's increase, pushing the S&P up 0.52% Monday and the Dow 0.58%. The Nasdaq trailed with a 0.26% rise.
Asia was feeling similarly optimistic despite economic data out of Japan that showed consumers are spending less, throwing doubt over government stimulus attempts. The Nikkei was 0.03% higher and, across the Korea Strait, the Kospi was 0.77% higher at 9:22 p.m. At the same time, Hong Kong's Hang Seng was up a similar 0.72%.
European traders took a different read of Yellen's comments, leaving markets there mixed over fears that investment will slow as the cheap money spigot shut. Germany's Dax lost 0.41% and France's Cac, 0.40%, while the FTSE in London gained 0.31%, also driven by financial shares.
Oil remained below the $50 a barrel market Monday, though it gained in early Asian trade with industry standard Brent crude up 0.16% at $49.34 per barrel, while West Texas crude rose 0.26% to $47.10 per barrel at 10:02 p.m. EDT. The prices reflect futures for October delivery.
Over in after-hours trading, the end of a proposed marriage between two chocolate makers led to strong moves in both directs. Suitor Mondelez (MDLZ) - Get Mondelez International, Inc. Class A (MDLZ) Report , of East Hanover, N.J., tasted a 3.81% gain to $43.04 after it called off its unwanted approach for iconic Pennsylvania chocolate rival Hershey's (HSY) - Get Hershey Company (HSY) Report . Meanwhile, Hershey's shares melted 11.7% in extended trading to $98.60.
Mondelez said it was unable to make its $23 billion, $107-per-share offer appetizing to Hershey's, which rejected the unwanted approach when it was made in July. At the time, analysts had said the charitable trust that controls Hershey's, which is based in Derry Township, Penn., likely wouldn't find a sweet tooth until Mondelez bid at least $130 per share.
Hershey's wasn't the only decliner after the regular trading session ended. Drug delivery technology company Catalent (CTLT) - Get Catalent Inc Report saw its stock slide 4.42% to $23.98 after it posted lower-than-expected earnings for the 2016 fiscal fourth quarter.
Following the market close, Somerset, N.J.-based Catalent reported adjusted earnings of 52 cents per share, which fell short of analysts' estimates of 53 cents per share. Revenue for the quarter was $532.2 million, higher than Wall Street's projections of $502.2 million.
Still, the company outperformed for the full year, with adjusted earnings of $1.22 per share on revenue of $1.85 billion. Wall Street was looking for earnings of $1.20 per share on revenue of $1.82 billion.