U.S. stock index futures rose on Monday, bouncing back from a steep sell-off in the previous session, buoyed by easing oil prices and hopes of a robust sales in the holiday season. Shoppers snapped up deep discounts on Black Friday and Cyber Monday in the United States, giving retailers a strong start to their make-or-break holiday season.
Shares of e-commerce giant Amazon.com Inc jumped 2.7 percent and eBay Inc gained 2.1 percent in premarket trading.
Oil prices rose, paring some its losses from the near-7 percent fall on Friday, lifting Dow components Exxon Mobil Corp up 0.9 percent and Chevron Corp 0.4 percent.
Wall Street's main indexes fell more than 3 percent last week, with the Dow and the Nasdaq posting their biggest weekly percentage declines since March, on plunging oil prices, worries about slowing global growth and peaking corporate earnings.
Trump dismisses report he is unhappy with Treasury's Mnuchin
U.S. President Donald Trump said on Twitter on Friday that he was quite happy with Treasury Secretary Steven Mnuchin's performance, after The Wall Street Journal reported that the president was dissatisfied with Mnuchin."I am extremely happy and proud of the job being done by @USTreasury Secretary @stevenmnuchin1," Trump said in a tweet.The Journal reported that Trump blames Mnuchin for the appointment of Federal Reserve Chairman Jerome Powell, who has been steadily raising U.S. interest rates. Trump is concerned that higher rates could undercut economic gains ahead of his 2020 reelection bid, the newspaper reported.Quoting unnamed sources, the Journal said Trump has also expressed displeasure with Mnuchin over stock market turbulence and the Treasury secretary's skepticism about the White House trade actions against China.US service member killed in Afghanistan: NATO"The FAKE NEWS likes to write stories to the contrary, quoting phony sources or jealous people, but they aren’t true. They never like to ask me for a quote b/c it would kill their story," Trump said on Twitter.Trump has repeatedly criticized the Fed's rate increases under Powell. In October, he called the Fed "crazy," "ridiculous" and "my biggest threat."A year ago when Trump picked Powell to head the Federal Reserve, Mnuchin, a former Goldman Sachs banker, was a strong advocate of his nomination.The Wall Street Journal, citing a person familiar with the matter, said Trump, in a conversation with someone who praised Mnuchin's performance, mentioned stock market volatility and said: "If he's so good, why is this happening?"White House meeting with German car bosses likely next weekThe benchmark Standard & Poor's 500 index on Friday ended down 10.2 percent from its Sept. 20 closing high, confirming that it had entered a correction, a term used to describe a decline of at least 10 percent from the previous peak.When the stock market has posted big gains, Trump has frequently tweeted about Wall Street's performance. On Oct. 2, Trump tweeted: "The Stock Market just reached an All-Time High during my Administration for the 102nd Time, a presidential record, by far, for less than two years."The Journal said Mnuchin has tried to moderate Trump's policy in the trade dispute with China. The Republican president, seeking to slash a $375 billion trade gap with China, has imposed tariffs on $250 billion of Chinese imports to force concessions.The Journal said that at a meeting last month, Mnuchin used the word "we" to refer to the administration's tough-on-China trade practices."What do you mean 'we,' Steve?" Trump said, according to the Journal, citing people familiar with the meeting. Trump dismisses CIA Khashoggi conclusion as 'feelings'
NASA spacecraft nears Red Planet on mission to detect 'marsquakes'
NASA's first robotic lander designed to study the deep interior of a distant world hurtled closer to Mars on course for a planned touchdown on Monday after a six-month voyage through space.Traveling 301 million miles (548 million km) from Earth, the Mars InSight spacecraft was due to reach its destination on the dusty, rock-strewn surface of the Red Planet at about 3 p.m. EST (2000 GMT).If all goes according to plan, InSight will streak into the pink Martian sky at 12,000 miles per hour (19,310 kilometers per hour). Its 77-mile descent to the surface will be slowed by atmospheric friction, a giant parachute and retro rockets. When it lands 6-1/2 minutes later, it will be traveling a mere 5 mph (8 kph).The stationary probe, which launched from California in May, will then pause for 16 minutes for the dust to settle, literally, around the landing site before its disc-shaped solar arrays unfurl to provide power.The mission control team at NASA's Jet Propulsion Laboratory (JPL) near Los Angeles hopes to get real-time electronic confirmation of the spacecraft's safe arrival from miniature satellites that were launched along with InSight and will fly past Mars.The JPL controllers also expect to receive a photo of the probe's surroundings on the flat, smooth Martian plain close to the planet's equator called the Elysium Planitia.The site is roughly 373 miles (600 km) from the 2012 landing spot of the car-sized Mars rover Curiosity, the last spacecraft sent to the Red Planet by NASA.The smaller, 880-pound (360 kg) InSight - its name is short for Interior Exploration Using Seismic Investigations, Geodesy and Heat Transport - marks the 21st U.S.-launched Martian exploration including the Mariner fly-by missions of the 1960s. Nearly two dozen other Mars missions have been sent from other nations.How Rocky Planets FormedInSight is the first dedicated to unlocking secrets from deep below the Martian surface. The lander will spend 24 months - about one Martian year - using seismic monitoring and underground drilling to gather clues on how Mars formed and, by extension, the origins of Earth and other rocky planets of the inner solar system more than 4 billion years ago."What this helps us understand is how we got to here," said JPL's Bruce Banerdt, InSight principal investigator, during a pre-landing briefing with reporters last week.While Earth's tectonics and other forces have erased most evidence of its early history, much of Mars - about one-third the size of Earth - is believed to have remained largely static over the eons, creating a geologic time machine for scientists.InSight's primary instrument is a highly sensitive French-built seismometer, designed to detect the slightest vibrations from "marsquakes" and meteor impacts.Scientists expect to see a dozen to 100 marsquakes over the course of the mission, producing data to help them deduce the size, density and composition of the planet.The Viking probes of the mid-1970s were equipped with seismometers, but they were bolted atop the landers, a design that proved largely ineffective.InSight also is fitted with a German-made drill to burrow as much as 16 feet (5 meters) underground, pulling behind it a rope-like thermal probe to measure heat.Meanwhile, a radio transmitter will send signals back to Earth, tracking Mars' subtle rotational wobble to reveal the size of the planet's core and possibly whether it remains molten.The InSight and next rover mission, along with others in the planning stage, are seen as precursors for eventual human exploration of Mars, NASA officials said. Clashing with Trump, US govt report says climate change will batter economy
The S&P 500 fell 0.66 percent on Friday and closed 10.2 percent lower from its record closing high on Sept.20, confirming a correction for the second time in the year.
At 7:06 a.m. ET, Dow e-minis were up 260 points, or 1.07 percent. S&P 500 e-minis were up 31 points, or 1.18 percent and Nasdaq 100 e-minis were up 104.5 points, or 1.6 percent.
Also on the forefront of investors minds is the G20 summit this week, where U.S. President Donald Trump and his Chinese counterpart Xi Jinping are expected to hold trade talks in Buenos Aires, Argentina.
Other members of the so-called FAANG group also rose, with shares of Facebook Inc, Apple Inc, Netflix Inc and Google-parent Alphabet gaining between 1.6 percent and 2.3 percent.
Among other stocks, Nvidia Corp rose 2.7 percent after Credit Suisse initiated coverage on the chip designer's shares with an "outperform" rating and said the recent weakness in shares provide a compelling entry point.
Smaller rival Advanced Micro Devices also gained 3.2 percent.
Clashing with Trump, US govt report says climate change will batter economy
Climate change will cost the U.S. economy hundreds of billions of dollars by the end of the century, hitting everything from health to infrastructure, according to a government report issued on Friday that the White House called inaccurate.The congressionally mandated report, written with the help of more than a dozen U.S. government agencies and departments, outlined the projected impact of global warming on every corner of American society in a dire warning that is at odds with the Trump administration's pro-fossil-fuels agenda."With continued growth in emissions at historic rates, annual losses in some economic sectors are projected to reach hundreds of billions of dollars by the end of the century - more than the current gross domestic product (GDP) of many U.S. states," the report, the Fourth National Climate Assessment Volume II, said.Global warming would disproportionately hurt the poor, broadly undermine human health, damage infrastructure, limit the availability of water, alter coastlines, and boost costs in industries from farming, to fisheries and energy production, the report said.Iran's Rouhani calls for Muslims to unite against United StatesBut it added that projections of further damage could change if greenhouse gas emissions are sharply curbed, even though many of the impacts of climate change - including more frequent and more powerful storms, droughts and flooding - are already under way. "Future risks from climate change depend primarily on decisions made today," it said.The report supplements a study issued last year that concluded humans are the main driver of global warming and warned of catastrophic effects to the planet.The studies clash with policy under President Donald Trump, who has been rolling back Obama-era environmental and climate protections to maximize production of domestic fossil fuels, including crude oil, already the highest in the world, above Saudi Arabia and Russia.US senator criticizes Trump on CIA Khashoggi remarksWhite House spokeswoman Lindsay Walters said the new report was "largely based on the most extreme scenario, which contradicts long-established trends by assuming that...there would be limited technology and innovation, and a rapidly expanding population."The government's next update of the National Climate Assessment, she said, "gives us the opportunity to provide for a more transparent and data-driven process that includes fuller information on the range of potential scenarios and outcomes."Trump last year announced his intention to withdraw the United States from the 2015 Paris Deal agreed by nearly 200 nations to combat climate change, arguing the accord would hurt the U.S. economy and provide little tangible environmental benefit. Trump and several members of his cabinet have also repeatedly cast doubt on the science of climate change, arguing that the causes and impacts are not yet settled.Trump dismisses report he is unhappy with Treasury's MnuchinEnvironmental groups said the report reinforced their calls for the United States to take action on climate change."While President Trump continues to ignore the threat of climate change, his own administration is sounding the alarm," said Abigail Dillen, president of environmental group Earthjustice. "This report underscores what we are already seeing firsthand: climate change is real, it's happening here, and it's happening now."Previous research, including from U.S. government scientists, has also concluded that climate change could have severe economic consequences, including damage to infrastructure, water supplies and agriculture.Severe weather and other impacts also increase the risk of disease transmission, decrease air quality, and can increase mental health problems, among other effects.Thirteen government departments and agencies, from the Agriculture Department to NASA, were part of the committee that compiled the new report.The entire report can be viewed at www.globalchange.gov.
US condemns deadly terrorist attacks in Pakistan
The United States on Friday condemned "in the strongest terms" the deadly terrorist attacks in Orakzai and Karachi, Pakistan.State Department spokeswoman Heather Nauert said in a statement the U.S. sends its deepest condolences to the victims’ families and wish for the speedy recovery of those injured.She said the U.S. commended Pakistani security forces' quick and brave response to the attack on the Chinese Consulate in Karachi that prevented further loss of life."The United States stands with the Pakistani people in the face of these terrorist acts, and will continue to seek opportunities to cooperate with the Pakistani government to combat these threats in the region," she said.At least 30 people were killed and 40 others injured in a bomb attack near a religious seminary in Kalaya in the Orakzai tribal district, northwestern Pakistan, on Friday.Separately, an armed attack on the Chinese Consulate in Pakistan’s commercial capital of Karachi on Friday morning killed at least seven people.