Stocks hold steady on economy optimism

Written By limadu on Senin, 09 Desember 2013 | 04.32

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NEW YORK (CNNMoney)

U.S. stock futures were moving up by roughly 0.1% ahead of the opening bell.

Friday's strong jobs report showed the U.S. unemployment rate fell to 7.0% -- the lowest level since November 2008 -- as more people said they were getting jobs and joining the labor force.

That followed Thursday's report showing much stronger third quarter growth in the U.S. economy than expected. And there was more positive news for the global economy over the weekend in the form of the first major world trade deal in nearly 20 years.

Related: No news may be good news for stocks

Markets surged Friday after the jobs numbers came out, with the Dow Jones Industrial Average rallying by nearly 200 points.

Investors are also looking ahead to a big Monday merger: American Airlines and US Airways are set to come together to form the largest air carrier in the world. The combination of the two giants is expected to create a company that's larger than the current industry leader, United Continental Holdings (UAL, Fortune 500).

Related: American Airlines, US Airways to form largest air carrier

Aside from that, investors will have relatively little economic and corporate news to consider Monday, with few scheduled reports set for release.

On the corporate side, automotive tire retailer Pep Boys (PBY) is among the small number of firms scheduled to report quarterly earnings after the bell.

Related: Fear & Greed Index

European markets were mostly lower in morning trading, while Asian markets ended with gains. Japan's Nikkei was a standout performer, rallying by 2.3% as the yen slipped against the U.S. dollar. To top of page

First Published: December 9, 2013: 5:00 AM ET


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