US STOCKS-Wall St set to rise at open; BlackBerry plummets

Mon Nov 4, 2013 9:11am EST
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

* BlackBerry abandons sale plans, to replace CEO

* Weyerhaeuser to sell homebuilding unit for $2.7 bln

* U.S. factory orders data on tap

* Futures up: Dow 52 pts, S&P 6.4 pts, Nasdaq 17 pts

By Chuck Mikolajczak

NEW YORK, Nov 4 (Reuters) - U.S. stocks were set for a higher open on Monday, putting the S&P 500 on track to build on its latest record high after four straight weeks of gains.

Still, U.S.-listed shares of Blackberry tumbled 21.1 percent to $6.13 in premarket trade after the smartphone maker said it was abandoning a plan to sell itself and instead, would replace its chief executive officer.

The benchmark S&P index has risen 4.2 percent over the past four weeks as the partial U.S. government shutdown in October pushed back expectations for the Federal Reserve to begin curtailing its stimulus measures into the first quarter of 2014.

Indeed, St. Louis Federal Reserve President James Bullard told CNBC television the Fed should not rush a decision to scale back its asset purchase program because of low inflation.   Continued...