Futures Slip After S&P 500 Best Week of 2015; Allergan Jumps

U.S. stock-index futures fell, following the biggest weekly gain of the year for the Standard & Poor’s 500 Index.

Freeport-McMoRan Inc. and Royal Gold Inc. fell at least 1.8 percent as commodities slumped to a 1999 low. Allergan Plc rose 5.6 percent in premarket trading. The company could announce a merger deal with Pfizer Inc. as soon as today, giving investors a premium of about 27 percent above Allergan’s stock price before news of the discussions became public.

S&P 500 contracts expiring in December fell 0.2 percent to 2,085.25 at 10:33 a.m. in London. The equity gauge surged 3.3 percent last week as Federal Reserve officials signaled the American economy is strong enough to withstand the first rate increase since 2006. Stocks have gained in seven of the past eight weeks, and are 2 percent away from a May record. Dow Jones Industrial Average futures fell 0.1 percent to 17,777 today.

Source : Bloomberg

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U.S. Index Futures Advance After Equity Rally; Allergan Rises

U.S. stock-index futures climbed, after Federal Reserve indications that the economic recovery is strong enough to raise interest rates in December propelled equities to their biggest rally in almost a month.

Allergan Plc gained 2.9 percent in pre-market New York trading after Pfizer Inc. was said to be in advanced talks to buy the Botox maker for as much as $ 380 per share. Keurig Green Mountain Inc. jumped 19 percent after the coffee maker reported better-than-expected earnings and boosted its dividend. Salesforce.com Inc. rose 5.4 percent after its sales outlook beat estimates.

Standard & Poor’s 500 Index E-mini contracts expiring in December added 0.3 percent to 2,086.25 at 9:45 a.m. in London. Futures on the Nasdaq 100 Index rose 0.3 percent, while Dow Jones Industrial Average contracts increased 62 points, or 0.4 percent, to 17,751.

Source : Bloomberg

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