Stock Futures Rise as Soros Goes Long on Herbalife
NEW YORK ( TheStreet) -- Stock futures were signaling a higher open on Wall Street Thursday as global markets digested better-than-expected U.S. jobs and Chinese manufacturing data after the Federal Reserve on Wednesday provided no indication it's preparing to cut back on its stimulative bond-buying program.
Ahead of the open, Procter & Gamble
Nutritional supplement stock Herbalife was rising more than 1% to $66.20 in premarket trading, extending the gains of the prior session after CNBC on Wednesday reported that billionaire investor George Soros had taken a large long position in the company, making it one of this top three positions.
Futures for the S&P 500 were gaining 13 points, or 12.77 points above fair value, to 1,693.5. Futures for the Dow Jones Industrial Average were adding on 119 points, or 116.46 points above fair value, to 15,552. Futures for the Nasdaq were tacking on 23 points, or 22.56 points above fair value, to 3,106.
Procter & Gamble
Apple shares were adding 0.83% to $456.35 in premarket trading. The company's suppliers are gearing up for mass production of a new iPad mini in the fourth quarter that likely will feature a high-resolution screen from rival Samsung, The Wall Street Journal reported, citing people familiar with the matter.
Apple is working with suppliers in Asia on its next iPad mini with a high-resolution "retina" display, the newspaper said. Component makers have been told that Apple plans to use screens from Samsung's display unit, as well as Japan's Sharp and LG Display .
Royal Dutch Shell