Market Morning: Not-So-Super Start
NEW YORK (
) -- U.S. stocks are poised to open lower Monday as a debt-deal for Greece remained uncertain.
European stocks fell after talks over the weekend between Greece and its private creditors failed to produce a deal needed to avert bankruptcy in March.
Asian shares ended Monday mostly higher. Japan's Nikkei 225 index rose 1.1% to close at 8,929.20, its highest closing in more than three months.
gained after investors celebrated an unexpected drop in the unemployment rate to its lowest level in almost three years.
The
Dow Jones Industrial Average
closed 156.8 points higher, or 1.2%, at 12,862. The
S&P 500
advanced 19.4 points, or 1.5%, to 1,345. The
Nasdaq
gained 46 points, or 1.6%, to 2,906, pushing the week's gains to 3.2% -- the best weekly performance in two months.
The economic calendar in the U.S. on Monday is light with just consumer credit for December due at 3 p.m. EST.
General Motors
(GM) - Get Report
next week is likely to report 2011 net income of about $8 billion, its highest ever, according to people who have seen the figures,
The Wall Street Journal
reported.
Growth in China and strong profit in North America are behind the gains.
The automaker also aims over the next several years to raise its profit margin to 10%, Daniel Ammann, chief financial officer, said in an interview with the newspaper. That would be up from the current margins of about 6%.
Yum! Brands
(YUM) - Get Report
,, owner of the KFC, Taco Bell and Pizza Hut chains, is expected by analysts Monday to post fourth-quarter earnings of 74 cents a share on revenue of $4.03 billion.
Yum! is expected to issue its report after markets close.
The New York Giants defeated the New England Patriots in
for the franchise's fourth championship title.
The Giants trailed 17-15 late in the fourth quarter before quarterback Eli Manning threw a 38-yard pass to Mario Manningham to put the Giants at midfield. Eight plays later, Ahmad Bradshaw ran six yards to score the game-winning touchdown. After missing a two-point conversion, the final score was 21-17.
-- Written by Joseph Woelfel
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Joseph Woelfel
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