* Dubai World says will seek debt standstill
* Walgreen qtrly profit jumps 20 pct
* Futures up: Dow 38 pts; S&P 5.6 pts; Nasdaq 11.5 pts
* For up-to-the-minute market news, click STXNEWS/US
(Updates prices, adds quote, byline)
By Rodrigo Campos
NEW YORK, Dec 21 (Reuters) - U.S. stock index futures rose
on Monday on expectations that rising commodity prices and a
downtick in the U.S. dollar would boost stocks in the energy
and materials sectors.
The dollar index <.DXY> edged 0.3 percent lower, while
February crude <CLc2> gained 0.4 percent to $74.75 per barrel.
The January contract <CLc1> expires later Monday.
"We've got a mildly positive commodities complex and mildly
weaker dollar, which seem to be the drivers early here," said
Art Hogan, chief market analyst at Jefferies & Co in Boston.
Investors will keep an eye on Dubai after debt-ridden
conglomerate Dubai World [], which met its creditors on
Monday, said it will work to seek a debt standstill in "an
orderly way" and will get government financial support if an
agreement is reached. []
The healthcare sector is in focus after a broad healthcare
bill passed a crucial test in the U.S. Senate early Monday, as
enough votes were put together to clear a key procedural hurdle
in approving President Barack Obama's top legislative priority.
For details, see []
Walgreen Co <WAG.N>, the largest U.S. drugstore chain,
reported a nearly 20 percent jump in quarterly profit as growth
in prescription drug sales and flu shots offset a hit in
consumer spending. []
Drugmaker Sanofi-Aventis <SASY.PA> agreed to buy U.S.
consumer healthcare group Chattem Inc <CHTT.O> for about $1.9
billion in a deal to give Sanofi over-the-counter presence in
the United States. []
Pfizer Inc <PFE.N>, the world's biggest drugmaker, is
buying the rights to a stem-cell therapy to treat inflammatory
bowel disease from Athersys Inc <ATHX.O>. []
S&P 500 futures <SPc1> rose 5.6 points and were above fair
value, a formula that evaluates pricing by taking into account
interest rates, dividends and time to expiration on the
contract. Dow Jones industrial average futures <DJc1> gained 38
points, and Nasdaq 100 futures <NDc1> added 11.5 points.
General Motors [] said Sunday it would evaluate
several new expressions of interest for its Swedish Saab unit,
including a fast-track bid from thwarted Dutch suitor Spyker
Cars <SPYKR.AS>. []
Terex Corp <TEX.N>, the world's third biggest maker of
heavy earth-moving equipment, is selling its mining business
for $1.3 billion in cash to mining equipment maker Bucyrus
International Inc <BUCY.O>, the companies said Sunday.
[]
French group Safran SA <SAF.PA> and General Electric Co
<GE.N> won a multibillion dollar deal to provide the power
plant for China's new C919 plane, Safran said Monday.
[]
Potash Corp of Saskatchewan Inc's <POT.TO><POT.N> New
York-traded shares rose 2.8 percent to $107.90 in premarket
trade after Goldman Sachs added the company to its "conviction
buy" list. Goldman also upgraded Mosaic Corp <MOS.N> to "buy"
from "neutral," and the stock added 3.2 percent to $56.99 in
light trade.
U.S. stocks rose Friday in choppy trade as quarterly
results from Oracle Corp <ORCL.O> and Research In Motion
Ltd<RIM.TO><RIMM.O> lifted the Nasdaq more than 1 percent, but
the U.S. dollar's climb curbed gains in both the Dow and the
S&P 500.
(Editing by Jeffrey Benkoe)
