After falling sharply in recent weeks, stocks may move back to the upside in early trading on Monday. The major index futures are currently pointing to a moderately higher open for the markets, with the Dow futures up by 47 points.
The markets may benefit from bargain hunting following the recent pullback, which has dragged the major averages down to their worst levels in four months.
However, it is worth noting that stocks seemed poised for a rebound in a number of the past few sessions, but buying interest typically waned not long after the open amid lingering concerns about the financial situation in Europe.
Trading activity may also be somewhat subdued amid a lack of major economic news and a relatively quiet day on the earnings front.
Nonetheless, shares of Yahoo (YHOO) are moving notably higher in pre-market trading after the online media giant announced that it is selling up to half of its stake in Alibaba back to the Chinese e-commerce company for about $7.1 billion.
DaVita (DVA) may also be in focus after the kidney dialysis services provider announced a deal to buy HealthCare Partners for about $4.42 billion in cash and stock.
Meanwhile, shares of Lowe's (LOW) may come under pressure in early trading after the home improvement retailer reported better than expected first quarter results but lowered its full year earnings guidance.
Traders are also likely to keep an eye on Facebook (FB) following the social media giant's glitch-plagued debut on Friday. Shares of Facebook are down by 4 percent in pre-market trading.
by RTT Staff Writer
For comments and feedback: firstname.lastname@example.org