Petróleo sob pressão após ataque dos EUA ao Irão

[Figas]

CBS MarketWatch
U.S. shares set for heady gains at open
Monday July 14, 8:48 am ET
By Julie Rannazzisi


NEW YORK (CBS.MW) -- Upgrades of Dow stocks Intel and Johnson & Johnson ahead of their earnings releases this week gave the market's bulls the upper hand on Monday, with shares readying for an upside start.
Merrill Lynch took Intel to a "buy" rating from a "neutral" on expectations the chip titan (NasdaqNMINTCNews) will improve its gross margins. Intel, which will open the books on its second quarter on Tuesday, is expected to have earned 13 cents a share.

And Bear Stearns hoisted Johnson & Johnson (NYSEJNJNews) to an "outperform" rating from a "peer perform" on belief the drugmaker's valuation is attractive and that investor concerns about the company are already reflected in current prices. J&J is expected to have made 69 cents a share when it unfurls second-quarter earnings on Tuesday.

In addition, CIBC World Markets upped Dow component Merck (NYSEMRKNews) to a "sector performer" from a "sector underperformer," citing attractive valuation and belief that the drug behemoth is likely to meet its 2003 and 2004 financial targets.

In the financial sector, both Citigroup and Bank of America chimed in with their second-quarter results. Dow component Citi (NYSECNews) topped Wall Street's expectations thanks to its credit card and mortgage lending businesses.

And Bank of America (NYSEBACNews) handily surpassed second-quarter profit targets as credit losses came in at their lowest level since the first quarter 2001.

In the futures pits, the September S&P 500 contract sprinted 9.00 points, or 0.9 percent, while the Nasdaq 100 contract added 18.00 points, or 1.4 percent.

No economic news is set for release on Monday in a week that will be jam-packed with key reports. Among them: June retail sales, June consumer price index and June industrial production.

But Fed Chief Alan Greenspan's testimony on the U.S. economy before Congress on Tuesday and Wednesday will take center stage and will likely be the week's most market-moving event.

Government bonds slipped, with the 10-year Treasury note down 6/32 to yield (CBOE^TNXNews) 3.65 percent while the 30-year government bond eased 9/32 to yield (CBOE^TYXNews) 4.70 percent.

In the currency sector, the U.S. dollar slipped against its major trading partners, falling 0.3 percent to 117.53 yen while the euro advanced 0.2 percent to $1.1303.