US STOCKS-Wall St to rise as Alibaba debuts, Scots stay in UK
(Updates prices, adds comment)
* Futures up: Dow 70 pts, S&P 7 pts, Nasdaq 14 pts
By Rodrigo Campos
NEW YORK, Sept 19 (Reuters) - U.S. stocks were set to rise at the open on Friday after Scotland's vote to remain in the United Kingdom removed market uncertainty and as Alibaba's strong pricing gave support to risk assets.
Stocks could build on record highs set in the previous session by the Dow industrials and S&P 500 in a week when the Federal Reserve also renewed its commitment to low interest rates.
Scotland's vote to stay in the United Kingdom gave a boost to European stocks while sterling rose against the euro and the U.S. dollar.
"Disarray in the UK would have had a negative effect, further strengthening the dollar and weakening the commodities complex," said Art Hogan, chief market strategist at Wunderlich Securities in New York.
Regarding Alibaba, Hogan said, "a large, hyped IPO that has gone successfully has a large, positive halo effect on the market."
S&P 500 e-mini futures were rising 7 points and fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract, indicated a higher open. Dow Jones industrial average e-mini futures rose 70 points and Nasdaq 100 e-mini futures added 14 points. Continuación...