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Stocks- Wall Street Looks to Higher Open Ahead of Earnings

U.S. Futures were up ahead of earnings, economic data. – U.S. futures edged forward on Monday as investors look ahead to another batch of earnings.

The S&P 500 futures rose just over two points or 0.09% as of 6:47 AM ET (11:47 AM GMT) while Dow futures jumped 25 points or 0.11% Tech heavy Nasdaq 100 futures increased 12 points or 0.20%.

Luxury car maker Tesla (NASDAQ:TSLA) was among the biggest gainers in pre-market trading, increasing 1.83% after news that it had received permission from the Chinese government to open a factory in Shanghai. Other top movers included biotechnology firm Agenus Inc (NASDAQ:AGEN), which surged 16.62% and Chinese social media platform Renren Inc (NYSE:RENN), which rose 6.58%.

Meanwhile car company Fiat Chrysler Automobiles NV (NYSE:FCAU) slumped 1.67% and Deutsche Bank AG (DE:DBKGn) NA O.N. (NYSE:DB) fell 1.24% amid reports that workers at the retail arm of the bank, Postbank, could go on strike amid wage disputes. Conglomerate General Electric (NYSE:GE) also fell 0.46% in trading before the opening bell.

Investors will be watching another round of major earnings, with oil firm Halliburton (NYSE:HAL), manufacturing firm Arconic Inc (NYSE:ARNC), toy company Hasbro (NASDAQ:HAS), paper firm Kimberly-Clark (NYSE:KMB), technology company Seagate Technology (NASDAQ:STX) and financial firm State Street Corporation (NYSE:STT) all expected to release their financial results on Monday, among others.

In economic news, the Chicago Fed's National Activity Index for September is set to come out at 8:30 AM ET (1:30 PM ET).

European stocks increased slightly amid continuing Spanish political uncertainty. The central government has moved to impose direct rule over the Catalonia region, sparking concern over Spain’s future. Spain’s IBEX 35 fell 29 points or 0.31% and Germany’s DAX jumped 59 points or 0.45% while in France the CAC 40 was up 29 points or 0.54%. In London, the FTSE 100 increased 11 points or 0.15% Meanwhile the pan-European Euro Stoxx 50 rallied 18 points or 0.51%.

In commodities, gold futures fell 0.30% to $1,246.72 a troy ounce while crude oil futures decreased 0.14% to $51.91 a barrel. The U.S. dollar index, which measures the greenback against a basket of six major currencies, jumped 0.29% to 93.84.

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