Reply #11: Stocks Set for Firm Start to '05; Oil Off

[ozymandius]

NEW YORK (Reuters) - U.S. stock futures rose on Monday, pointing to a solid start to the New Year, as oil prices tumbled more than a dollar and Wal-Mart Stores Inc. (NYSE:WMT - news) brightened its outlook for December sales.

Wal-Mart, the world's biggest retailer, rose nearly 2 percent on the Inet electronic brokerage system, after it said sales rose 3 percent at U.S. stores open at least a year -- higher than its forecast a week ago.

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S&P 500 futures were up 5.10 points, higher than fair value accounting for interest rates, dividends and time to expiration on the contract, indicating a higher start to trading.

Dow Jones industrial index futures were up 62 points, while Nasdaq futures gained 8 points.

A flush of "new money" coming into the market, such as from 401K retirement savings plans, could be helping, said John O'Donoghue, CSFB managing director of listed trading.

http://story.news.yahoo.com/news?tmpl=story&ncid=1196&e=1&u=/nm/bs_nm/markets_stocks_dc&sid=95609877