Nov. 25 Premarket Briefing: 10 Things You Should Know
Here are 10 things you should know for Monday, Nov. 25:
1.-- U.S. stock futures on Monday were pointing to further gains on Wall Street, which last week rose for a seventh-straight week.
Also lifting sentiment was a weekend deal struck on nuclear enrichment struck between Iran and world powers.
European stocks were advancing in early trading. Asian shares finished the session mostly higher. Japan's Nikkei 225 index rose 1.5%.
2.-- The economic calendar in the U.S. Monday includes pending-home sales for October at 10 a.m. EST.
3.-- U.S. stocks on Friday closed higher as the Dow Jones Industrial Average closed above 16,000 for a second day.
The Dow Rose 0.34% to close at 16,064.77 while the S&P 500 added 0.5% to finish the week at 1,804.76. The Nasdaq gained 0.6% to 3,991.65. For the week, the S&P and Dow gained 0.37% and 0.65%, respectively, while the Nasdaq tacked on 0.14%.
Under the agreement, Iran will limit enrichment of uranium to 5%, far below the level needed for nuclear weapons. Iran received limited relief from sanctions that have hurt its economy, but an embargo on its oil exports remains in place while negotiations continue for an enduring deal, The Associated Press reported.
Sources told AllThingsD that Apple purchased PrimeSense for around $360 million.
Apple spokeswoman Kristin Huguet confirmed the deal with this generic statement: "Apple buys smaller technology companies from time to time, and we generally do not discuss our purpose or plans."
6.-- Chrysler is working to get an IPO done by mid-December, ratcheting up pressure on the carmaker's two owners to strike a deal that would allow majority owner, Fiat, to buy full control before Chrysler lists, The Wall Street Journal reported.
The IPO could raise $1.5 billion to $2 billion, according to the Journal.
7.-- J.C. Penney
J.C. Penney is being replaced by Allegion, a provider of security for homes and businesses, according to S&P Dow Jones Indices, which runs the S&P 500 index.
The retailer will join the S&P MidCap 400. The change will become effective upon the close of trading on Nov. 29.