* Oil up 2.8 pct; dollar drops for first time in 11 days
* U.S. economy performing "reasonably well" - Fed's Fischer
* LifeLock and Headwaters jump after agreeing to be acquired
* Futures up: Dow 23 pts, S&P 5 pts, Nasdaq 12.75 pts
(Adds details, comments, updates prices)
By Yashaswini Swamynathan
Nov 21 Wall Street looked set to open higher on
Monday, with the three major indexes hovering near record
levels, supported by higher oil prices and the lingering effects
of the post-election rally.
Oil prices rose about 2.8 percent to a near three-week high
of $47.87 per barrel amid hopes of the OPEC reaching an
agreement to cut output. The dollar index's first drop in
11 days also helped.
Energy companies dominated the gainers among S&P 500
companies in premarket trading, led by Chesapeake's 4.2
The three major U.S. indexes are near record highs, rallying
since the U.S. election as investors bet President-elect Donald
Trump's policies would be market friendly.
Some investors have cashed in their gains, while others
await clarity on the next government's policies.
Federal Reserve Vice Chairman Stanley Fischer on Monday was
the latest to offer his thoughts on what policies must be
"Certain fiscal policies, particularly those that increase
productivity, can increase the potential of the economy and help
confront some of our longer-term economic challenges," Fischer
"Investors are playing out their beliefs, which in this case
is that Trump is going to bring about tax cuts and policy
changes that could result in a solid equity market," said Andre
Bakhos, managing director at Janlyn Capital in Bernardsville,
"This rally could end anytime, but, for the moment, the
enthusiasm is still there."
Dow e-minis were up 23 points, or 0.12 percent at
8:17 a.m. ET (1317 GMT), with 25,044 contracts changing hands.
S&P 500 e-minis were up 5 points, or 0.23 percent,
with 110,197 contracts traded.
Nasdaq 100 e-minis were up 12.75 points, or 0.27
percent, on volume of 19,751 contracts.
Banks have led the post-election charge on hopes that the
Fed would raise interest rates in December, when it meets for
the last time this year.
Traders have priced in an 85 percent chance of a rate hike
next month, according to Thomson Reuters data.
LifeLock jumped 14.4 percent to $23.70 after
Symantec said it would buy the identity theft
protection services company for $2.3 billion. Symantec was flat.
Headwaters rose 15.9 percent to $23.29 after
Australia's Boral Ltd said it would buy the U.S.
construction and building products maker for $1.8 billion.
Facebook rose 1.24 percent to $118.47 after
announcing a $6 billion share repurchase program.
Tyson Foods dropped 10 percent to $60.50 after the
meat processor reported lower-than-expected profit and said its
chief executive officer would step down.
(Reporting by Yashaswini Swamynathan in Bengaluru; Editing by