U.S. futures higher despite North Korea uncertainty; Dow Jones up 0.42%
Investing.com
Published Dec 19, 2011 06:19AM ET
Ahead of the open, the Dow Jones Industrial Average futures pointed to a rise of 0.42%, S&P 500 futures signaled a 0.53% increase, while the Nasdaq 100 futures indicated a 0.68% gain.
Sentiment was hit as concerns over geopolitical instability in northeast Asia escalated earlier amid uncertainty over the future leadership of North Korea.
Meanwhile, mass credit rating downgrades across the euro zone lingered after Fitch Ratings put six euro zone nations on watch for downgrades on Friday, saying a "comprehensive solution" to the region's debt crisis was "technically and politically beyond reach."
AT&T saw shares advance 0.21% amid talks over potential asset sales as part of the company’s efforts to get approval of its USD39 billion purchase of T-Mobile USA have gone cold, according to the Wall Street Journal.
Energy stocks were also higher as shares in Chevron jumped 1.19% and Exxon Mobil added 0.16%, while mining company 3M Co edged up 0.01%.
Meanwhile, the financial sector was mixed. Shares in JPMorgan climbed 0.41% and Citigroup added 0.44%, while Bank of America tumbled 1.14% and Goldman Sachs plunged 1.96%.
On the downside, Procter & Gamble tumbled 1.75% as the world's largest maker of household products, has halted full-time hiring for this fiscal year.
Across the Atlantic, European stock markets were mixed. The EURO STOXX 50 climbed 0.81%, France’s CAC 40 rose 0.55%, Germany's DAX jumped 0.92%, while Britain's FTSE 100 declined 0.28%.
During the Asian trading session, Hong Kong's Hang Seng Index tumbled 1.5%, while Japan’s Nikkei 225 Index retreated 1.25%.
Later in the day, European Union leaders were to hold talks to discuss measures to resolve the debt crisis, including the possibility of European nations lending EUR200 billion to the International Monetary Fund.
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