Here’s what’s shaking:
Stock futures are rebounding after last week’s lackluster economic growth numbers sent investors scrambling for the door.
Dow Jones industrial futures are up 41 points to 14,690. The broader S&P futures have added 4.5 points to 1,581. Nasdaq futures are up 10 points to 2,840.50.
The earnings season continues, though Monday is light on reports, with Chrysler posting before the stock market opens and Express Scripts reporting after the closing bell.
Markets are digesting the personal income and spending report, which was released by the Commerce Department at 8:30 a.m. Eastern.
Economists surveyed by FactSet expect that spending was unchanged in March from February, after rising 0.7 percent in February. Incomes are expected to have increased 0.4 percent.
Oil prices pushed back above $93 per barrel Monday as sentiment in financial markets was shored up by the formation of an Italian government and expectations of an interest rate reduction from the European Central Bank later this week.
By early afternoon in Europe, benchmark crude for June delivery was up 35 cents to $93.35 a barrel in electronic trading on the New York Mercantile Exchange. The contract fell 64 cents to close at $93 in New York on Friday after figures showed the U.S. economy grew by an annualized rate of 2.5 percent in the first three months of the year.
Though the global growth picture has largely disappointed of late, investors think it’s increasingly likely that the world’s leading central banks will maintain their loose monetary policies for a while yet.
And in the case of the European Central Bank, there’s an expectation in the markets that the benchmark interest rate will be cut from the current record low of 0.75 percent to 0.50 percent.
A weaker dollar also helped boost oil prices by making crude priced in dollars cheaper for traders using other currencies.
Brent crude, which is used to price oil from the North Sea used by many U.S. refiners, was down 2 cents to $103.14 on the ICE futures exchange in London
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The Associated Press contributed to this report.
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