Alcoa Gives U.S. Stock Futures a Boost

Market Update Analysis:

Author: Elena Todorova
123jump.com
Last Update: 9:01 AM EDT June 18 2007

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U.S. stock futures posted modest gains on Monday, supported by deal speculation involving aluminum producer Alcoa. Company''s shares rose 2.4% amid reports that BHP Billiton is reviewing plans to buy the aluminum producer. Investors were also awaiting signals of whether market will continue to recover and bond yields will remain in check.

In the energy markets, crude oil and gasoline prices continued their rally over tight U.S. gasoline supplies. Crude oil futures for July delivery rose 35 cents to settle at $68.00 a barrel on the Nymex, its highest finish since September. July gasoline futures advanced 3.54 cents to end at $2.2601 a gallon.

Dryness in the eastern Corn Belt, along with ethanol demand, kept corn above $4 a bushel. On the CBOT, July corn gained 9.50 cents to end at $4.19 a bushel, and soybeans added 19.5 cents to finish at $8.4725 a bushel.

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