Investing.com – US stock markets are ready to open sharply higher Friday, as oil producer Chevron s (NYSE 🙂 offer to buy Anadarko Petroleum (NYSE 🙂 for $ 33 billion in confidence in En of the economy's strongest growth engines.
Anadarko shares are indicated to open up 30% over $ 61 after Chevron has a cash and stock offer that appreciates slate-focused manufacturers at $ 65 per share. The Chevron share is markedly down 3%, as investors are digesting the announcement that the acquisition would take a year to earn earnings for their own stock. The company also said it would increase its buy-back program by 20% after the transaction.
"The combination of the two companies will create a 75-kilometer-wide corridor over the most attractive area of the Delaware Basin, expanding Chevron's leading position as a manufacturer in Permian," said Chevron in his statement. fast-growing market for liquid, through Anadarko's business in Mozambique.
Major index futures were already set to open higher, after stronger than expected Chinese first-quarter data reassured markets such as Beijing's fiscal and monetary stimulus measures have stabilized the economy after the downturn in end of last year.
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The market is giving up unofficial start to the earnings season, with the result in the first quarter of JPMorgan (NYSE 🙂 running it to a 2.3% gain in premarket trading. Wells Fargo (NYSE 🙂 and PNC Financial (NYSE 🙂 will also report later.
The one who measures the greenback against a basket of large currencies declined by 0.3% at 96.860, a decrease of 0.3% when the euro hit three weeks in the back of signs that industrial production in the euro area began to bottom out February.
The better financial data helped to regain all their losses from Thursday. The reference WTI futures contract was up 1.5% at $ 64.53.
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