(MENAFN- ProactiveInvestors) U.S. stocks edged higher on Friday after yesterday's ECB-inspired rally following the announcement that the central bank will implement a $1.2 trillion bond purchase program.
Futures on the three major US indexes were up around 0.2% premarket. Thursday's gains turned the S&P 500 positive for the year with the index surging 1.5% along with the Dow.
Oil prices were higher in early trading today after news of the death of Saudi Arabia's King Abdullah fueled uncertainty. King Abdullah's half-brother Crown Prince Salman is succeeding him as the new ruler of the world's top oil exporter and vows to maintain the same approach as his predecessor. A key indicator of future Saudi oil policy will now be whether Salman retains oil minister Ali Al-Naimi who has driven decision-making since 1995. Light crude oil for March delivery on the Nymex is up 1.1% at $46.84.
On the economic agenda in the US investors will get a fresh look at the nation's housing market with the National Association of Realtors releasing its December existing home sales report at 10:00am ET. Economists are expecting a 3% increase to an annual rate of 5.08 million units following a 6.1% slide in November.
At the same time the Conference Board is out with its December index of leading economic indicators which is expected to rise 0.5%.
In corporate activity () reported a quarterly profit of 56 cents per share topping estimates by a penny on strong growth in its industrial unit though revenue was slightly short of expectations due to pressure in its oil and gas segment.
McDonald's () shares rose 1.4% premarket despite fourth quarter profit and revenue dropping from a year ago as the world's biggest fast food chain reported better-than-expected same store sales which were down 0.9% compared to expectations for a fall of 1.6%.
Bank of New York Mellon () shed premarket after reporting weaker than expected results for its fourth quarter as higher foreign exchange revenue and equity market values could not offset the impact from lower performance fees and fixed income losses.
() rose almost 5% premarket after it issued earnings in line with expectations and said it is moving ahead with its previously announced plans to introduce delivery in the second half of the year. It also announced that director Kevin Johnson would become president and COO effective March 1 replacing long time executive Troy Alstead who is taking an extended sabbatical.
() said it is delaying its third quarter earnings report as a result of the massive hacking attack on its Pictures Entertainment unit.
A clinical trial of two experimental Ebola vaccines made by (NYSE:GSK) and NewLink Genetics (NASDAQ:NLNK) is expected to start in Liberia in the next few weeks.
DreamWorks Animation () said it is cutting 500 jobs and will cut the number of films it produces each year to two from three as part of a restructuring.
Online storage provider Box (NYSE:BOX) is set to begin trading today after pricing its IPO at $14 a share above its expected range giving it a market valuation of $1.7 billion.
European markets were broadly higher today extending seven-year highs with shares in France leading the region after the ECB announced plans yesterday to expand asset purchases by 60 billion euros per month until at least September 2016. The gains come ahead of the election in Greece on Sunday with voters to choose a new parliament. Asian markets also posted a strong session overnight with the Nikkei in Japan jumping over 1%.
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