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STOCKS NEWS US-Futures up on Obama stimulus plan, auto hopes

 Stocks on the move [HOT-RTRS] Real-Time Equity news [U E]
 U.S. stock market report [.N]
0808 ET 08Dec2008-Futures up on Obama stimulus plan, auto hopes
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 U.S. index futures rose Monday as investors hoped that a major
infrastructure investment program proposed by President-elect Barack Obama
would avert a slump in the economy. People were also watching the auto sector
as the Senate prepares to continue talks about bailing out the auto industry.
[ID:nN08499550]
 Dow Jones industrial average futures DJc1 surged 240 points while S&P 500
futures SPc1 were up 30.30 points and Nasdaq 100 futures NDc1 gained 35.50
points.
 Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0800 ET 08Dec2008-JPMorgan cuts earnings targets for S&P 500
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 JPMorgan Monday reduced its earnings estimate on the S&P 500 .SPX for
both 2008 and 2009, with the firm focusing on the energy, materials industrial
and technology sectors, groups it said would be most impacted by a deepening
global recession and lower commodity prices.
 The firm's 2008 earnings estimate for the index was cut by $5 to $71.50
while the 2009 view was cut by $10 to $65. JPMorgan's year-end target was also
cut to 1,000 from 1,125. The firm forecast a bottom in the index in mid-2009,
with shares remaining range-bound until then.
 Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0753 ET 08Dec2008-Senate returns to auto bailout talks
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 The U.S. Senate was scheduled to reconvene on Monday to draft legislation
to bail out the U.S. auto industry in a move to try and contain a deepening
recession. [ID:nL8636603]
 Shares of General Motors GM.N, a Dow component, closed Friday at $4.08
and rose to $5.09 before the bell on Monday. Ford Motor F.N closed Friday at
$2.72 and edged up to $3.28 in premarket trade.
 Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0748 ET 08Dec2008-Wal-Mart to sell $99 iPhones: NY Post
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 Wal-Mart Stores WMT.N will sell Apple Inc's AAPL.O iPhone product for
$99, according to a report in the New York Post. The item will debut on the
discount retailer's shelves before Christmas. [ID:nBNG75519]
 At $99, iPhones being sold at Wal-Mart will be cheaper than ones sold at
Apple stores.
 Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0726 ET 08Dec2008-Economic diary for Dec 8
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 Monday's economic diary includes the following items:
 -Employment Index for November
Reuters Messaging:rm://Charles.mikolajczak.reuters.com@reuters.net
0716 ET 08Dec2008-Earnings diary for Dec 8
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 Companies expected to report quarterly results on Monday include C&D
Technology CHP.N, H&R Block HRB.N and National Semiconductor NSM.N.
Reuters Messaging:rm://Charles.mikolajczak.reuters.com@reuters.net
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