Stock Futures Point to Modest Wall Street Gains

May 10, 2016

New York (May 10)  Stock futures were modestly higher on Tuesday, recovering from an uncertain start to the week caused by a volatile commodity market.

S&P 500 futures were up 0.33%, Dow Jones Industrial Average futures climbed 0.37%, and Nasdaq futures added 0.28%.

Stocks ended Monday's session mixed as crude rallied then sold off. Oil closed below $44 a barrel on Monday as progress was made in fighting a massive wildfire in Canada. The blaze brought relief to an oversupplied oil market as 11 producers and three pipeline operators were forced to limit operations.

Back by Popular Demand…“Confessions of a Street Addict” Get a FREE signed copy of Jim Cramer’s national best-seller when you gain access to his multi-million dollar charitable trust portfolio! Click here to see Jim’s holdings and get your FREE gift.

Crude oil remained volatile on Tuesday. West Texas Intermediate crude oil started the day higher, before turning 0.2% lower to trade at $43.38 a barrel.

Gap (GPS - Get Report) fell 14% in premarket trading after warning of lower-than-expected sales in its first quarter. The retailer, which reports on May 19, said quarterly sales fell 6% to $3.44 billion, a steeper decline than an expected 3% drop. The company is also evaluating options for its international Old Navy and Banana Republic chains.

Credit Suisse  (CS - Get Report) posted a quarterly loss that was narrower-than-expected as it made progress on cost cuts. The Swiss lender did see a sharp decline from quarterly profit to loss over the first three months of the year as markets suffered from a selloff to start 2016. January and February were "some of the most difficult markets on record," said CEO Tidjane Thiam. Shares were down 1%.

Allergan (AGN - Get Report) rose 3% after announcing a new $10 billion stock repurchase program. The drugmaker said it plans to repurchase $4 billion to $5 billion in stock over the next four to six months.

Allergan is a holding in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio . Want to be alerted before Cramer buys or sells AGN?  Learn more now.

Lumber Liquidators (LL - Get Report) tumbled 10% as it continued to face the fallout from a product safety scandal last year. The flooring company reported a first-quarter loss of $1.20 a share, far steeper than a loss of 29 cents a share a year earlier. Expenses surged 20% after legal fees increased $13.5 million. The company has been in embroiled in legal issues since it was accused of selling laminate flooring containing carcinogenic chemicals.

Source: TheStreet

Silver Phoenix Twitter                 Silver Phoenix on Facebook