US STOCKS-Wall St set to open higher as dlr falls after G20

* Dollar pressure gives futures lift after G20 meeting

* September existing home sales on tap

* Futures up: S&P 6 pts, Dow 39 pts, Nasdaq 9.25 pts

* For up-to-the-minute market news see [STXNEWS/US]
(Recasts, adds details)

By Leah Schnurr

NEW YORK, Oct 25 (BestGrowthStock) – Wall Street was set to rise at
the open on Monday as the U.S. dollar fell after a meeting of
the Group of 20 stopped short of setting targets to reduce
trade imbalances.

At a meeting in South Korea, the G20 agreed to shun
competitive currency devaluations, but stopped short of setting
targets to reduce trade imbalances that are clouding global
growth prospects. For details, see [ID:nTOE69M004] and

The greenback slid broadly, while commodity prices surged
after the G20 deal. The dollar was down 0.7 percent against a
basket of currencies (.DXY: ), while oil futures (Clc1: ) were up
1.2 percent at $82.65 a barrel.

“It’s another day where we have that correlation in play of
a weak dollar and strong stocks,” said Jamie Cox, managing
partner of Harris Financial Group in Colonial Heights,

Equities and the dollar have developed a strong inverse
relationship, and growing speculation the Federal Reserve will
extend quantitative easing measures at its next meeting in
November has pressured the dollar while boosting equities.

While the earnings season so far has looked strong,
investors have been more focused on the macroeconomic picture
than corporate earnings, Cox said.

S&P 500 futures (SPc1: ) rose 6 points and were 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 (DJc1: ) gained 39
points, and Nasdaq 100 futures (NDc1: ) added 9.25 points.

Economic data on tap later Monday includes September
existing home sales, which are expected to rise to 4.3 million
from 4.13 million the month before. [ECI/US]. The report will
come at 10 a.m. EDT (1400 GMT) from the National Association of

Fed Chairman Ben Bernanke said banking regulators are
reviewing foreclosure practices at large financial institutions
and will publish a report next month. [ID:nNLLPLE6L8]

Meanwhile, Bank of America Corp (BAC.N: ) acknowledged
mistakes in foreclosure files as it began to resubmit documents
in 102,000 cases, the Wall Street Journal reported.

Also in the financial sector, Citigroup Inc (C.N: ) was up
nearly 3 percent at $4.23 in premarket trading after Goldman
Sachs added the stock to its “conviction buy list,” saying the
big bank faced limited loan repurchase risk compared with its

The Select Sector Financial SPDR ETF (XLF.P: ) was up 0.9
percent. [ID:nSGE69O0E9]

CommScope Inc (CTV.N: ) jumped 33.7 percent to $30.90 after
it said it was in talks for private equity firm Carlyle Group
[CYL.UL] to acquire the communications cable maker and take it
private. [ID:nSGE69O090]

Stocks capped a third straight week of gains on Friday as
encouraging earnings helped the market sustain upward momentum,
led by Baidu Inc (BIDU.O: ), the latest technology company to
beat estimates.
(Editing by Jeffrey Benkoe)

US STOCKS-Wall St set to open higher as dlr falls after G20