US Stock Futures Up Following North Korean Leader’s Death
Published at(NEW YORK) — After losses in recent days, Wall Street is set to open trading this week with gains following news that North Korean leader Kim Jong Il has died. U.S. stock futures are up ahead of Monday’s opening bell.
On Friday, the stock market closed out the week with averages falling more than 2.5 percent amid worries that the debt crisis plaguing Europe would worsen. The Dow Jones Industrial Average dropped two points on Friday, while the Nasdaq and S&P 500 climbed 14 points and four points, respectively.
In Asia, the announcement of Kim’s death propelled stocks to tumble. South Korea’s Kospi took the biggest hit, plummeting 3.43 percent on Monday. Australia’s S&P/ASX 200 sank 2.38 percent, Taiwan’s Taiex fell 2.24 percent, Japan’s Nikkei index lost 1.26 percent, Hong Kong’s Hang Seng dipped 1.18 percent, and China’s Shanghai Composite shed 0.30 percent.
Meanwhile, in Europe, stocks are following in Wall Street’s footsteps, trading mostly higher on Monday.
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