Stock Futures Point to a Higher Opening
The U.S. equity market is expected to open higher, with stock futures making gains before the start of trading today. The Dow Jones Industrial Average futures climbed 65 points to 11,155, the S&P 500 futures climbed 8 points to 1189 and Nasdaq futures climbed 11 points.
The U.S. dollar fell today, touching a 15-year low against the Japanese yen. The dollar dropped 1% against the yen to 80.41, the lowest level in 15 years. The dollar also weakened against the euro. The dollar index declined 0.9% to 76.799.
BP Plc (ADR) (NYSE: BP) CEO Bob Dudley said that the company’s rivals and the media created a climate of fear during the summer following the oil spill in the Gulf of Mexico. Dudley said that there had been a great rush to judgment by a fair number of observers before the full facts could possibly be known even from some in our industry. BP ADRs are currently up 0.49% to $40.70 in pre-market trading.
Office Depot Inc. (NYSE: ODP) today announced that it’s Chairman, and CEO Steve Odland will step down from his position next week. The company also provided preliminary third-quarter results today. The company said that it expects to report third-quarter sales of $2.9 billion, down 4% over the third quarter of 2009 and slightly lower than analysts’ estimate of $2.95 billion. The Boca Raton, Florida-based company will report its third-quarter financial results later this week. Shares of Office Depot Inc. are up 5.83% to $4.90 in pre-market trading today.
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