Investing.com – U.S. futures rose on Monday, as investors turned their attention to a flurry of corporate earnings reports and reports that IBM is making one of the largest ever acquisitions in the tech sector, buying Red Hat.
The rose 19 points or 0.71% to 2,688.50 as of 6:51 AM ET (10:51 GMT) while were up 92 points, or 0.37%, to 24,838.0. Meanwhile tech heavy increased 66 points, or 0.97%, to 6,960.0.
Financial results were expected later Monday from Booz Allen Hamilton Holding (NYSE:), Mondelez International Inc (NASDAQ:), AvalonBay Communities Inc (NYSE:) and Chase Corporation (NYSE:), among others.
Market sentiment was also buoyed by reports that IBM (NYSE:) is acquiring Red Hat Inc (NYSE:), a software and technology distributor, in a .
According to a joint statement released Sunday, IBM, which has a market capitalization of $114 billion, will pay $190 per share in cash for Red Hat, a 63% premium to Friday’s closing share price of $116.68.
IBM was down 4.92% in premarket trading, while Red Hat surged 50.84%.
Elsewhere, Tesla (NASDAQ:) gained 0.78% that Baillie Gifford & Co, one of the luxury car makers top shareholders, would be willing to invest more into the company. Advanced Micro Devices Inc (NASDAQ:) increased 2.84% and Facebook (NASDAQ:) rose 1.73%.
Tower International Inc (NYSE:) fell 12.39% after its earnings results came in lower than expected while Randgold Resources (LON:) decreased 0.31%.
On the data front, and for September are released at 8:30 AM ET (12:30 GMT).
In commodities, fell 0.03% to $1,232.10 a troy ounce while futures decreased 0.27% to $67.41 a barrel. The which measures the greenback against a basket of six major currencies, inched up 0.01% to 96.37.
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