U.S. futures were pointed higher Monday morning, continuing the positive trend after a strong U.S. jobs report helped foster gains in Friday's session.
The S&P 500, Dow Jones Industrial Average and Nasdaq were climbing 0.1%-0.2%. The major indices reached their highest levels of the year on Friday, following data that showed the U.S. added 215,000 jobs in March, 5,000 more than analysts were expecting for the month.
Crude prices were showing volatility premarket, increasing briefly before falling back into the red. Industry standard Brent crude for June delivery was down $0.01 to $38.66 per barrel, while West Texas crude contracts for May delivery were down $0.09 to $36.70 per barrel.
Virgin America (VA) shares were up 40% premarket Monday after the airline agreed to be purchased by Alaska Air Group (ALK) for $2.6 billion. Alaska Air will pay $57 a share for the company, making the deal worth about $4 billion including debt considerations. Virgin America's market cap was about $1.4 billion the session before news first broke that the company was considering a sale.
Shares of Tesla Motors (TSLA) were rising premarket after the company reported that preorders for the company's new Model 3 electric vehicle had topped 276,000. The reservations for the base price $35,000 vehicle gives Tesla a backlog of over $10 billion. To contrast, last year the company's total revenue reached $4 billion.
Time (TIME) is reportedly considering a partnership with a private equity firm to make a bid for Yahoo!'s (YHOO) Internet assets that the company is looking to spin off, according to Reuters.
Looking ahead this week, Real Money's Jim Cramer told his "Mad Money" viewers Friday that he will be watching the analyst meetings at Nvidia (NVDA) and First Solar (FSLR), along with earnings from Darden Restuarants (DRI) and Walgreen Boots Alliance (WBA), a stock owned in Cramer's Action Alerts PLUS charitable trust, on Tuesday.
On Wednesday, Cramer will be watching earnings releases of Constellation Brands (SZ) and Bed Bath & Beyond (BBBY). Thursday's earnings include ConAgra Foods (CAB), CarMax (KMX) and Rite Aid (RAD). Finally, Cramer will be watching for the shareholder meeting at Marriott (MAR) to hear the latest on the company's plans for acquisition target Starwood Hotels & Resorts (HOT).
Finally, Barron's cover article this weekend endorsed Republican presidential candidate John Kasich as the best candidate for markets and the economy, lauding his tax and trade plans.
"Unlike Clinton, Kasich has a sensible across-the-board tax-cutting agenda for corporations, individuals, and investors. And as a Republican president working with a presumably GOP-controlled Congress, he would be a more effective leader," wrote contributor John Kimelman. "After all, he spent six years as the chairman of the House Budget Committee, so he knows how to broker a deal.
"It would be marvelous if Kasich were in the White House and Paul Ryan is the speaker of the House," says David Kotok, a Kasich fan who is chairman of Cumberland Advisors, a $2.4-billion-in-assets money-management firm in Sarasota, Fla. "You'd have two people who are bright and skillful compromisers who would get things done, as opposed to the obstructionist politics we've had for many years."