3:13 AM
Stock index futures signal early dip
Addison Ray
Mon Nov 8, 2010 4:24am EST
(Reuters) - Stock index futures pointed to a slightly lower open on Wall Street on Monday, with futures for the S&P 500 down 0.19 percent, Dow Jones futures down 0.07 percent and Nasdaq 100 futures down 0.17 percent at 0910 GMT.
Tech and media companies will be in the spotlight after the Wall Street Journal reported on Sunday, citing unnamed sources, that AOL Inc (AOL.N) is exploring strategic options, which include a possible tie-up with Yahoo Inc (YHOO.O), and has retained financial advisers to do so.
Energy shares will also be in focus after oil company Royal Dutch Shell Plc (RDSa.L) unveiled plans on Monday to sell about a third of its stake in Woodside Petroleum (WPL.AX) for $3.3 billion, effectively putting Australia's largest oil and gas firm in play.
German sporting goods company Adidas (ADSGn.DE) hopes to grow sales to 17 billion euros ($23.9 billion) by 2015 as it strives to overtake market leader Nike (NKE.N).
Japan's Nikkei average rose 1.1 percent to a three-month closing high on Monday, adding to gains made last week as risk money shifts toward global equities on improving prospects for the U.S. economy, but European stocks were slightly down in early trade, with telecom shares such as Vodafone (VOD.L) among the biggest drags.
The dollar rose on Monday as an unwinding of dollar short positions that began with solid U.S. jobs data gathered pace, while renewed concern over euro zone peripheral debt hurt the euro.
Companies scheduled to report quarterly results on Monday include Frontier Communications Corp (FT.N), Priceline.com (PCLN.O), Progressive Corp (PGR.N) and Sysco Corp (SYY.N), while economic indicators on tap for Monday include the October employment trend number.
U.S. stocks rose for the fifth straight week as investors took heart from Republican gains in the elections and on news that more cheap money from the Federal Reserve was on the way.
The Dow Jones industrial average .DJI edged up 9.24 points, or 0.08 percent on Friday, to 11,444.08. The Standard & Poor's 500 Index .SPX added 4.78 points, or 0.39 percent, to 1,225.84. The Nasdaq Composite Index .IXIC rose 1.64 points, or 0.06 percent, to 2,578.98.
(Reporting by Blaise Robinson; Editing by Hans Peters)
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