US markets to open higher

The major US stock market indexes are expected to rise on Dec 26, 2008 following positive corporate news. The Dow Jones futures surged 67 points (up 0.8%), the ones of NASDAQ and S&P500 added 8.5 points (up 0.72%) and 5.7 points (up 0.66%) respectively before 16:05 (Moscow Time).

Investors might be encouraged by the FOMC's approval of turning financial giant GMAC LLC into a bank holding. This would allow GMAC LLC to use the advantages of the federal lending program and to continue granting loans to General Motors Corp., one of the biggest US-based car producers, in order to save it from an obligation default.

Car industry securities are expected to grow, hence, with General Motors being among the top performers.

Energy assets including ExxonMobil Corp. are likely to advance in light of crude futures showing an about 3% rise. Publishing house New York Times Co. may boost amid the news of its possible deal to sell out a 17.5% stake in New England Sports Ventures, the owner of baseball team Boston Red Sox. The stake is estimated at USD166 mln.

One of the largest US householding appliances retailers Best Buy Co. is among the losers amid the holidays sales failing.

The US stock markets were closed for Christmas Thursday.