MARKET SNAPSHOT: Stock Market Poised For Higher Open As Oil Prices Rise

By Sara Sjolin and Anora Mahmudova, MarketWatchFeaturesDow Jones Newswires

Durable-goods order drop by 1.1% in May

U.S. stocks were set to kick off the week on sound footing Monday, with futures rising alongside a rally in oil prices.

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The reaction to weaker-than-expected durable-goods orders was largely muted in equity-index futures, though both the dollar and Treasury yields declined.

Durable-goods orders ( slipped 1.1% last month following a similar drop in April, disappointing economists who expected a smaller decline.

Futures for the Dow Jones Industrial Average rose 62 points, or 0.3%, to 21,401, while those for the S&P 500 index added 6.6 points, or 0.3%, to 2,441.5. Futures for the Nasdaq-100 index climbed 27 points, or 0.5%, to 5,840.

The upbeat mood premarket comes after stocks finished mostly higher on Friday ( In that session, investors scooped up energy shares, battered after crude oil prices dropped to a 10-month low earlier in the week. The S&P 500 ended 0.2% higher, and the Nasdaq Composite Index climbed 0.5%, but the Dow average ended marginally lower.

On Monday, energy-related companies continued to perform well, tracking a modest jump in oil prices ( Shares of Chesapeake Energy Corp.(CHK) climbed 1.8% premarket, while ConocoPhillips(COP) added 1.7% and Exxon Mobil Corp.(XOM) put on 0.4%.

Other stock movers: Shares of Yum! Brands Inc.(YUM) advanced 1.8% before the bell after Australian company Collins Foods Ltd. (CKF.AU) said it is buying 28 KFC restaurants from the fast food chain operator (

Facebook Inc.(FB) inched 0.2% higher premarket. The social-networking giant is talking to Hollywood studios and agencies about producing TV-quality shows (, according to people familiar with the talks.

U.S.-listed shares of Nestle SA(NESN.EB) could also move after news that billionaire activist investor Daniel Loeb's Third Point LLC hedge fund has taken a $3.5 billion stake in the consumer-products giant ( Shares were 3.8% higher in Europe.

Economic news:Orders for durable goods ( fell by the largest amount in May, dropping for the second month in a row and suggesting that an early-year surge has faded.

The Chicago Fed national activity index fell to negative 0.26 in May from 0.57 in April.

See: MarketWatch's Economic Calendar (

In central bank news, San Francisco Fed President John Williams said at a speech in Australia that gradual hikes in interest rates are needed to avoid overheating the U.S. economy ( Separately at Salzburg in Austria, Fed governor Jerome Powell said he sees room to ease some banking rules in the U.S (

A quarterly mortgage sentiment survey from Fannie Mae showed U.S. lenders are preparing for tougher times ahead and planning to relax lending standards, according to Reuters.

Other markets:Asian stock markets closed higher ( across the board, helping European stocks open higher as well (

The dollar trimmed gains against major rivals, especially against the euro, after weaker economic data, trading at $1.1218 compared with $1.1194 late Thursday. The yield on the 10-year Treasury note fell 2 basis points to 2.13%, near its lowest levels since last November. Meanwhile gold stumbled about 1%.

(END) Dow Jones Newswires

June 26, 2017 09:10 ET (13:10 GMT)