11 July 2005, 16:41  US stock futures rise modestly as oil falls by $1

U.S. stock futures pointed to a flat to slightly higher open on Monday as easing oil prices and anticipation of robust company earnings whet investors' appetites for equities. Investors will have an eye on shares of oil company Pogo Producing Co. after the company said it has agreed to acquire Northrock Resources Ltd., in a $1.8 billion cash deal. S&P 500 futures rose 2.7 points. Dow Jones industrial average futures advanced 27 points, while Nasdaq 100 futures rose 5.5 points. "Dennis missed oil rigs and platforms in the Gulf. That alleviated some concerns," said Andre J. Bakhos, president of Princeton Financial Group, of North Brunswick, New Jersey. In addition to oil prices, investors are looking ahead to a wave of earnings reports from U.S. companies. PepsiCo, Apple Computer Inc. and General Electric Co. are among companies due to release earnings this week.

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