US STOCKS-Futures edge up, buoyed by deal activity

* Futures up: Dow 38 pts, S&P 3.5 pts, Nasdaq 1.75 pts

By Tanya Agrawal

April 10 (Reuters) – S&P Futures edged higher on Friday, getting a lift from news that General Electric will sell nearly all of its real estate portfolio to investors for $ 26.5 billion in the latest of a spate of recent deal activity.

* The GE move is the biggest commercial real estate deal since Blackstone’s acquisition of office landlord Equity Office Properties Trust in 2007 for $ 39 billion, including debt. GE shares jumped 6.3 percent to $ 27.36 before the opening bell.

* The S&P 500 is up 1.2 percent for the week and is on track for a second straight week of gains, helped by a pickup in merger activity. Investors are also bracing for a pickup in quarterly results after the corporate earnings season kicked off earlier this week.

* Data expected at 8:30 a.m. EDT (1230 GMT) includes import prices for March, which are expected to decline 0.3 percent.

* Consumers flocked to Apple Inc’s stores around the world on Friday to get the first close-up look at the tech giant’s smartwatch, which the company expects will be its next runaway hit. Still, Apple shares were off 0.5 percent at $ 125.99 in premarket trading.

* PayPal, eBay Inc’s electronic payments division, said the two firms had agreed that eBay would not reduce the volume of transactions it channels through PayPal, while continuing to get better rates for its merchants for five years after the two split.

Futures snapshot at 7:26 a.m. EDT (1126 GMT)

* S&P 500 e-minis were up 3.5 points, or 0.17 percent, with 87,049 contracts changing hands.

* Nasdaq 100 e-minis were up 1.75 points, or 0.04 percent, in volume of 10,877 contracts.

* Dow e-minis were up 38 points, or 0.21 percent, with 14,377 contracts changing hands.

(Editing by Bernadette Baum)

You may also like...

Rules of Discussion on US STOCKS-Futures edge up, buoyed by deal activity

1. This forum is for discussion of financial markets. Please respect others view even if they are contrary to you.
2. Member's comments should lead to value addition in forum discussion.
3. If anyone is found making repetitive Explicit/Abusive/Racial comments, his account shall be banned and old posts will be deleted.
4. Providing Advice/Recommendations/Tips is fine but it should be free. Members cannot ask to be paid for it. Paid Advice is strictly prohibited
5. Spam links are not allowed. Too much promotion or using Contact info in ID will lead to account ban.
IMP : Members are requested to flag any violations to keep Forum Clean.
Loading comments …