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Reply #3: All better now! U.S. Stock-Index Futures Gain on Europe Optimism, Surge in Holiday Sales [View All]

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Pale Blue Dot Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 06:10 AM
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3. All better now! U.S. Stock-Index Futures Gain on Europe Optimism, Surge in Holiday Sales
U.S. stock futures rose, signaling the Standard & Poors 500 Index will snap a seven-day decline, after Thanksgiving retail sales climbed to a record and euro- area leaders were said to boost efforts to end the debt crisis.

AT&T Inc. (T) jumped 2.2 percent in Germany after the company was said to prepare an antitrust remedy proposal over its acquisition of Deutsche Telekom AGs U.S. unit. Alcoa Inc. (AA) rallied with metal prices. JPMorgan Chase & Co. (JPM) advanced, tracking European banking shares.

S&P 500 futures expiring in December advanced 2.8 percent to 1,185.6 at 10:42 a.m. in London. The benchmark equity index has fallen 7.9 percent since Nov. 15, including the worst Thanksgiving-week decline since 1932. Futures on the Dow Jones Industrial Average gained 245 points, or 2.2 percent, to 11,432.

It would be a relief for money managers if we can just move Europe from a negative to a neutral impact on the market, Dan Veru, chief investment officer at Fort Lee, New Jersey-based Palisade Capital Management LLC, which manages $3.4 billion, said in a telephone interview. Theres an underpinning of growth in the U.S. and its picking up steam.

http://www.bloomberg.com/news/2011-11-27/u-s-stock-inde...
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