LEVI - These 2 Premarket Winners Could Spur a Big Stock Market Rally
The stock market has been volatile, with a pullback in September reminding investors that stocks don't always move straight up. Nevertheless, some progress in Washington toward potentially reaching a resolution to the current debt crisis spurred enthusiasm among Wall Street's finest. As of 8 a.m. EDT, futures contracts on the Dow Jones Industrial Average (DJINDICES: ^DJI) were up 288 points to 34,579. S&P 500 (SNPINDEX: ^GSPC) futures rose 42 points to 4,396, and Nasdaq Composite (NASDAQINDEX: ^IXIC) futures were higher by 180 points to 14,938.
Earnings season doesn't kick off until next week, but a few companies are still reporting their results, and last night's numbers from Levi Strauss (NYSE: LEVI) showed a generally positive tone in retail that is encouraging going into the holiday shopping season. Meanwhile, after considerable speculation, Meredith (NYSE: MDP) finally received a formal acquisition bid that relieved nervous shareholders in the publishing company. We'll discuss both stocks below and their role in helping push the market higher.
Shares of Levi Strauss were higher in the premarket trading session by more than 5%. The jeans maker reported fiscal third-quarter results that signaled a sharp rebound in customer demand.
For further details see:
These 2 Premarket Winners Could Spur a Big Stock Market Rally