Three prominent hedge fund managers weigh in on what lies ahead for markets in 2012.iStockphoto/Getty Images/iStockphoto
Global stocks looked set to move higher on Monday, with U.S. indexes coming off their worst one-week dip of the year last week.
U.S. indexes were higher with slightly less than two hours before markets open, suggesting that stocks will rise at the start trading. Futures for the Dow Jones industrial average were up 50 points or 0.4 per cent. The blue-chip index fell last week during a three-day slide over concerns about economic growth in China, before recovering some lost ground at the end of the week. The broader S&P 500 rose 5 points or 0.4 per cent.
In Europe, the U.K.'s FTSE 100 fell 0.2 per cent but Germany's DAX index rose 0.7 per cent in afternoon trading. The backdrop there wasn't entirely positive: While German business confidence topped expectations, reports on manufacturing activity last week pointed to a recession in the euro zone -- and Italy's prime minister is sounding the warning that Spain's deficit impasse could trigger a new round of fretting over the sovereign-debt crisis, which has gone eerily quiet since Greece's bailout.
In Asia, Japan's Nikkei 225 rose 0.1 per cent in overnight trading. Meanwhile, commodity prices edged lower: Crude oil fell to $106.63 (U.S.) a barrel, down 0.2 per cent. Gold fell to $1,661 an ounce, down 0.1 per cent.
In economic news, investors will be looking for U.S. pending homes sales for February and a report on economic activity in the Chicago region.
In Canada, SNC-Lavalin Group Inc. is going to be back in focus after the engineering firm's chief executive officer resigned over allegations that he allowed unauthorized payments totalling $56-million. The company's share price took a beating recently when it pre-announced disappointing earnings and said that it was investigating payments, largely associated with the company's business interests in Libya.