Stock index futures pointed to a positive open for Wall Street as investors showed positive reaction to news that Abu Dhabi would provide $10 billion of aid to neighbor Dubai. Futures were also lifted by some early deal news. Exxon Mobil announced it will acquire XTO Energy in an all-stock deal worth $41 billion. In other financial news, Citigroup announced it has reached agreement with the government to repay $20 billion it has received in TARP funds. The bulk of the bank’s payment will be funded through a $17 billion common stock offering.
There is no major economic data scheduled for release today or Friday, but there is a long list of reports due on the other days. On the inflation front, we get new numbers for the CPI and PPI. The cyclically sensitive goods-producing sector gets updates on housing starts and industrial production. And at mid-week, the Fed announces its final policy decision for the year.
- Harrington Wealth Management
- Our firm provides comprehensive trust and investment management services by employing a customized asset allocation approach. By focusing on the individuality of each client, Harrington Wealth Management Company has helped high net worth individuals, families, and small institutions grow and sustain their wealth through proven investment practices since 1994. A fee-only advisor, we also offer other financial services from our offices in California, Kansas and Indiana that include custody, estates, land trusts, probate administration, guardianships, personal trust administration, retirement plan services, and investment consulting services.
