Pages

Welcome, 77 artists, 40 different points of Attica welcomes you by singing Erotokritos an epic romance written at 1713 by Vitsentzos Kornaros

Tuesday, January 20, 2015

Futures Up; Oil Falls On Lower IMF Forecasts

By Ryan VlastelicaNEW YORK (Reuters) - U.S. stock index futures rose modestly on Tuesday as lower growth forecasts from the International Monetary Fund spurred hopes that central banks would take more aggressive policy stances to accelerate economic improvement.* While the lower forecasts implied less demand for fuel over the next two years, contributing to another leg lower in crude oil prices, Wall Street stocks were on track for a second straight day of gains, after a rally of more than 1 percent on Friday.* The IMF lowered its forecasts for global economic growth in both 2015 and 2016, projecting growth of 3.5 percent this year and 3.7 percent next year; both forecasts are down by 0.3 percentage points. The IMF advised advanced economies to maintain accommodative monetary policies to avoid increases in real interest rates as cheaper oil increases the risk of deflation.* U.S. crude futures fell 1.8 percent to $47.80 per barrel, keeping the commodity - which is down more than 55 percent since June - near its lowest level since 2009.* While cheap gas prices could be a boon to consumer spending, many analysts are waiting to see whether the net impact on the economy will be positive, given the decline in energy company earnings that is expected. Halliburton Co is scheduled to report quarterly results on Tuesday.* FXCM Inc plummeted 81 percent to $2.40 in premarket trading on volume of nearly 430,000 shares, making it the most active premarket name on the New York Stock Exchange. The retail foreign exchange broker on Friday said it would get a $300 million loan from Leucadia National Corp to keep operating after losing millions from a recent surge of the Swiss franc. Late Monday, FXCM provided further details on the terms of the loan.* Investors continued to assess effects of the move by the Swiss National Bank on Thursday to lift the cap on the Swiss franc. The decision could foreshadow a large stimulus by the European Central Bank next week that would further weaken the euro, or be a safeguard against a possible Greek exit from the euro zone that could potentially destabilize the bloc.* Regions Financial dipped 0.4 percent to $9.03 before the bell after reporting its fourth-quarter results.Futures snapshot at 6:46:* S&P 500 e-minis were up 8.75 points, or 0.43 percent, with 277,027 contracts changing hands.* Nasdaq 100 e-minis were up 22.5 points, or 0.54 percent, in volume of 64,779 contracts.* Dow e-minis were up 62 points, or 0.36 percent, with 52,226 contracts changing hands.(Editing by)Join the conversation about this story »


READ THE ORIGINAL POST AT www.businessinsider.com