Not enough to smile?

[notiCIas]

Not enough to smile?

Earnings, outlook from Wal-Mart that hit forecasts leaves stock futures mixed in face of higher oil.

November 14, 2005: 7:30 AM EST

NEW YORK (CNN/Money) - Stocks will be looking for direction Monday as investors consider slightly higher oil prices and an earnings report from No. 1 retailer Wal-Mart Stores that hit targets.

U.S. stock futures were mixed following the report from Wal-Mart (Research) that met analysts' earnings forecast for the third quarter on slightly weaker-than-expected sales. The company also gave full-year and fourth quarter guidance roughly in line with estimates.

Oil prices were higher in early trading following Friday's sell-off that took futures near a four-month low. The December light crude futures contract for NYMEX gained 50 cents to $58.03 a barrel in electronic trading, while the December contract for Brent crude rose 52 cents to $55.51.


Major markets in Asia closed mixed Monday, with stock indexes in Japan and Hong Kong losing ground. Major European markets were higher in early trading.

Treasury prices were higher, cutting the yield on the 10-year note to 4.55 percent. The dollar gained against on the yen and was little changed against the euro.

In corporate news, General Motors (Research) announced late Friday it was offering a new round of sales incentives through Jan. 3, effective immediately. The sales program offers vehicles at the same price employees of GM's auto parts suppliers pay and includes 2006 models.

Georgia Pacific (Research) agreed to be purchased by privately-held Koch Industries, in a $21 billion deal -- including debt -- that would pay a 39 percent premium to shareholders of the company that makes Dixie cups and Brawny paper towels.