Futures Rise on Chevron's $ 33 Billion Vote of Confidence By Investing.com

Investing.com – U.S. stock markets are poised to open sharply higher Chevron 's (NYSE 🙂 offer to buy Anadarko Petroleum (NYSE) for $ 33 billion in confidence.

Anadarko shares are indicated at open up 30% at over $ 61 after Chevron has a cash-and-stock offer that values ​​the shale-focused producer at $ 65 a share. Chevron stock is down 3%, as investors digest the message that the acquisition would take a year to be earnings-accretive for its own stock. The company also said it would increase its buyback program by 20% after completing the transaction.

"The combination of the two companies will create a 75-mile-wide corridor across the most attractive acreage in the Delaware basin, extending Chevron's leading position in the Permian," Chevron said in its statement. It will also increase its exposure to the fast-growing market for liquefied, through Anadarko's operations in Mozambique.

Major indexes are already in the process of becoming more important, after stronger-than-expected.

As of 06:30 AM ET (10:30 GMT), the contract was up 13 points, gold 0.5%, the contract was up 163 points, or 0.6%, while the contract was up 27.5 points or 0.4%.

The market is gearing up for the unofficial start of earnings season, with first-quarter results from JPMorgan (NYSE 🙂 driving it to a 2.3% gain in premarket trade. Wells Fargo (NYSE 🙂 and PNC Financial (NYSE) are also due to report later.

The rate of change was down 0.3% at 96.860, down 0.3% at the euro hit a three-week high on the back of the signs that Eurozone industrial production started to bottom out in February.

The best economic data helped to recoup all its losses from Thursday. The WTI futures benchmark contract was up 1.5% at $ 64.53.