US STOCKS-Futures higher as China keeps rates unchanged

* China keeps interest rates unchanged

* GE to buy British oilfield services company for $1.3 bln

* Futures up: S&P 3.9 pts, Dow 38 pts, Nasdaq 4.75 pts

* For up-to-the-minute market news see [STXNEWS/US]

By Angela Moon

NEW YORK, Dec 13 (BestGrowthStock) – U.S. stock index futures were
higher on Monday after China decided to leave interest rates
unchanged.

* But China’s central bank told six of the country’s
biggest lenders that a special increase in required reserves
will be extended, the latest step to try to quell inflation,
sources told Reuters. For details, see [ID:nL3E6ND0F6]

* Further boosting equities, U.S. President Barack Obama’s
tax deal with Republicans will likely win grudging passage in
the U.S. Congress, backers and critics said, despite the
president’s clash with liberals who branded it a giveaway to
the rich. [ID:nN12164149]

* General Electric Co (GE.N: ) will buy British oilfield
services company Wellstream Holdings Plc (WSML.L: ) for about 800
million pounds ($1.3 billion) to expand its subsea equipment
and services portfolio. GE shares were up 0.3 percent at $17.78
in premarket trade.

* U.S. Treasuries fell in Asia, with 10-year yields hitting
a six-month high as investors dumped the debt on the back of
higher growth and higher deficits in the United States.
[ID:nTOE66S064]

* In other upbeat data from China over the weekend,
industrial output in November beat expectations, sending copper
to a record high. Also, Chinese inflation climbing to a
28-month high. [ID:nBJL002113]

* S&P 500 futures (SPc2: ) rose 3.9 points and were slightly
above fair value, a formula that evaluates pricing by taking
into account interest rates, dividends and time to expiration
on the contract. Dow Jones industrial average futures (DJc2: )
gained 38 points, while Nasdaq 100 futures (NDc2: ) added 4.75
points.

* Oil futures rose 1.5 percent above $89 after the
Organization of the Petroleum Exporting Countries agreed over
the weekend to keep crude oil output flat.

* The Financial Times reported that European officials are
considering plans to overhaul the euro zone’s 440 billion euro
rescue fund and use it to buy bonds of distressed governments,
making it easier to help debt-swamped countries without
resorting to fully-fledged bailouts. [ID:nLDE6BC015]

* Genzyme Corp (GENZ.O: ) will be in focus after
Sanofi-Aventis (SASY.PA: ) extended its $18.5 billion cash offer
until Jan. 21 and may prolong it longer, a sign the French
drugmaker is prepared for a long battle. [ID:nLDE6B10OK]

* Wal-Mart Stores Inc (WMT.N: ) is in advanced talks with New
York’s construction unions to get their backing for its first
store in New York City, The Wall Street Journal reported.

* Grocery store chain Great Atlantic & Pacific Tea Co
(GAP.N: ) filed for bankruptcy protection as it struggled with a
cash drain and a sluggish economic recovery.

* Private equity firm Carlyle Group’s [CYL.UL] chief
financial officer resigned, possibly delaying an initial public
offering, the Financial Times reported, citing sources.

* U.S. stocks (Read more about the stock market today. ) ended higher Friday, with the S&P 500 at its
highest level since Lehman Brothers collapsed in 2008, and
breaching technical levels that suggest the year-end rally will
persist. The Dow posted two consecutive week of gains.
(Reporting by Angela Moon; editing by Jeffrey Benkoe)

US STOCKS-Futures higher as China keeps rates unchanged