us stock futures signal rebound after selloff
* U.S. stock index futures pointed to a higher open on WallStreet on Monday, signalling a rebound after the previoussession's steep losses, with futures for the S&P 500 SPc1 up0.74 percent, Dow Jones DJc1 futures up 0.68 percent andNasdaq 100 NDc1 futures up 0.02 percent at 0912 GMT.
* The banking sector will be in the spotlight after CITGroup Inc (CIT.N), a U.S. lender to hundreds of thousands ofsmall and medium-sized businesses, filed for bankruptcy onSunday, as the global financial crisis left it unable to funditself and the recession hit its loans. [ID:nN01408863]
* Goldman Sachs Group Inc (GS.N) is in talks to buy millionsof dollars of tax credits from Fannie Mae (FNM.N), but the U.S.Treasury could block the deal, The Wall Street Journal reportedon Sunday.
* Bank of New York Mellon Corp (BK.N) Chief Executive RobertKelly was recently approached about taking the CEO job at Bankof America Corp (BAC.N), but he has shown no interest in thejob, The Wall Street Journal reported.
* Japan's Nikkei stock average dropped 2.3 percent onMonday, with exporters hit by a stronger yen and in the wake ofWall Street's selloff on Friday, while European shares wereslightly down in morning trade, adding to Friday's big losses,led lower by pharma stocks such as Roche (ROG.VX) and Novartis(NOVN.VX).
* Oil rose above $77 a barrel on Monday, retracing some ofthe previous session's 3.6 percent drop, as bullishmanufacturing data from China helped to allay fears about thepace of the rebound in global energy demand.
* After weak U.S. consumer sentiment data released onFriday, investors were bracing for more U.S. macro data onMonday on construction spending, pending home sales as well asdata from the Institute of Supply Management.
* On the macro front in Asia, HSBC's China PurchasingManagers' Index (PMI) rose to an 18-month high in October of55.4 from 55.0 in September, pointing to sustained strength inthe country's vast manufacturing sector.
* In company news, U.S. wine and spirits maker ConstellationBrands Inc (STZ.N) said it is talking to several companies tosell or merge a part of its Australian and UK wine operations.[ID:nSYD403094]
* Comcast Corp (CMCSA.O) and General Electric Co (GE.N) arecloser to a deal to give Comcast a 51 percent stake in NBCUniversal and a formal announcement may be made in the comingweek, the New York Times said, citing people briefed on thetalks. [ID:nBNG348863]
* Denbury Resources Inc (DNR.N) has agreed to buy EncoreAcquisition Co (EAC.N) for $3.2 billion to create one of NorthAmerica's largest oil production and exploration companies.[ID:nN01400606]
* The Dow industrials suffered its worst slide since July onFriday on concerns that the economic recovery won't be robustenough to sustain the seven-month stock rally, while financialssank on renewed worries about Citigroup's balance sheet.
* The Dow Jones industrial average .DJI slid 249.85points, or 2.51 percent, to end at 9,712.73. The Standard &Poor's 500 Index .SPX tumbled 29.92 points, or 2.81 percent,to 1,036.19. The Nasdaq Composite Index .IXIC dropped 52.44points, or 2.50 percent, to close at 2,045.11. (Reporting by Blaise Robinson; Editing by Jon Loades-Carter)
Source: Reuters
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