The Day Ahead: Iran Deal Lifts Global Markets

 | Nov 25, 2013 | 8:50 AM EST
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Global equities are on the rise Monday morning after Iran agreed over the weekend to curtail its nuclear program. As part of the deal, the oil-producing nation would release oil assets in return for the loosening of long-time economic sanctions.

January crude prices have been falling with the Iran news, down more than 1%, while December gold is about 1% lower as well. Overseas, European and Asian markets rallied on the agreement.

It's a light day for earnings, with reports from Nuance Communications (NUAN) and Workday (WDAY) expected after trading ends. Nuance is seen posting net income of $0.29 per share on revenue of $489.6 million. Activist investor Carl Icahn has a 16% stake in the maker of voice applications such as Apple's (AAPL) Siri. Icahn also has a stake in Apple. Cloud-based human resources company Workday is expected to report a loss of $0.18 on revenue of about $100 million for the third quarter.

J.C. Penney (JCP) is a stock to watch on news that the embattled retailer will be dropped from the S&P 500 later this week. Shares were slightly lower in premarket action.

The world's biggest retailer, Wal-Mart (WMT) has named Doug McMillon to succeed retiring CEO Mike Duke effective Feb. 1.

And struggling smartphone maker BlackBerry (BBRY) announced a shakeup, ousting COO Kristian Tear and Chief Marketing Officer Frank Boulben, and replacing CFO Brian Bidulka.

Chrysler's return to the U.S. stock market could net the automaker as much as $2 billion, according to a report in the Wall Street Journal.

At 10 a.m. ET, the National Association of Realtors' pending home sales index is expected show a gain of 1.1% in October, ending four months of steady declines. And at 10:30 a.m., the Dallas Fed's report on regional business activity for September is seen rising to 5.0 from 3.6 in October.

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