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US STOCKS-Futures recover weekend losses following Paris attacks
November 16, 2015 / 1:26 PM / 2 years ago

US STOCKS-Futures recover weekend losses following Paris attacks

* Starwood falls after buyout offer from Marriott

* Crude oil higher after Friday’s Paris attacks

* Futures up: Dow 16 pts, S&P 4 pts, Nasdaq 3.25 pts (Adds details, updates prices)

By Abhiram Nandakumar

Nov 16 (Reuters) - U.S. stock futures were little changed on Monday, recovering from losses over the weekend following the deadly attacks in Paris on Friday that killed 129 people and injured hundreds.

Global stocks held steady, with gains in the energy sector helping to pare earlier losses in European shares.

Crude prices rose as France launched large-scale air strikes against Islamic State targets in Syria.

Shares of Exxon and Chevron were up about 1 percent in premarket trading.

Gold prices rebounded from a six-year low as risk-averse investors bought into the safe-haven metal after the attacks. The euro was at near 7-month lows against the dollar.

At 7:58 a.m. ET (1258 GMT), S&P 500 e-minis were up 4 points, or 0.2 percent, with 240,872 contracts traded.

Nasdaq 100 e-minis were up 3.25 points, or 0.07 percent, on volume of 34,881 contracts. Dow e-minis were up 16 points, or 0.09 percent, with 32,539 contracts changing hands.

Traders are facing increased uncertainty ahead of the crucial holiday shopping season and the Federal Reserve’s meeting on interest rates next month.

Policymakers, including Fed Chair Janet Yellen, hinted last week at a liftoff in December, after nearly seven years of near-zero levels, if data supports the notion that the economy was strong enough to withstand an increase.

The attacks in Paris unfolded after markets closed in the United States on Friday.

Earlier Friday, U.S. stocks logged their largest weekly losses since August on the back of weak economic data and following six weeks of gains on the S&P 500.

The New York Stock Exchange and Nasdaq said on Sunday they would observe a minute of silence at 9:25 a.m. (1425 GMT) to honor the victims of the attacks.

Billionaire investor Warren Buffett is not selling any securities from his portfolio as a result of the attacks, CNBC said.

Buffett cut his stakes in Goldman Sachs and Wal-Mart in the quarter to Sept. 30, and raised his holding in IBM, according to a regulatory filing. Goldman was flat, while both IBM and Wal-Mart were up slightly.

Starwood Hotels’ shares fell 6 percent to $70.50 premarket after agreeing to be bought by Marriott International for $12.2 billion, or $72.08 per share. Marriott fell 2.2 percent to $71.17.

Airline stocks slipped on fears that the Paris attacks would curb travel. American Airlines was down 2 percent, United Continental was off 1.4 percent and Delta Airlines fell 1.8 percent.

Cruise operator Carnival Corp fell 2.2 percent, while travel company Expedia was down 1 percent at $123.98. (Reporting by Abhiram Nandakumar in Bengaluru; Editing by Savio D‘Souza)

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