Monday, November 11, 2013

Wall Street stock futures trade in narrow range

Wall Street was on track Monday to start the trading week in a narrow range as stock futures were up slightly after the Dow Jones industrial average closed out last week at an all-time high.

Dow Jones industrial average index futures were up 0.1%, Standard & Poor's 500 index futures rose 0.1% and Nasdaq index futures were up 0.1%.

On Friday, the Dow gained 1.1% to close at a record 15,761.78. The S&P 500 index ended up 1.3% at 1,770.61, just shy of its record close of 1,771.95. . The Nasdaq advanced 1.6% to 3, 919.23.

FRIDAY: Dow closes at all-time high after strong jobs data

In energy trading Monday, benchmark crude for December delivery was down 16 cents to $94.44 in electronic trading on the New York Mercantile Exchange. The contract rose 40 cents to close at $94.60 a barrel on Friday.

Asian stock markets eyed the strong U.S. economic growth data from last week as well as expectations that the Federal Reserve will start cutting back stimulus soon.

Hong Kong's Hang Seng rose 1.4% Monday to 23,069.85 while China's Shanghai composite rose 0.2% to 2,109.47. Japan's Nikkei 225 advanced 1.3% to 14,269.84.

Stocks in Manila sank after a typhoon devastated the eastern Philippines, killing thousands of people.

PHILIPPINES: Horror stories as 10,000 feared dead in Typhoon Haiyan

Global investors were also waiting to see if China's communist leaders, who started a four-day meeting in Beijing on Saturday, would announce reform plans to bolster the world's No. 2 economy.

European markets were trading higher.

Contributing: Associated Press

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