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Wall Street to Open Higher; Oil, Minerals Lead
CNBC.com | June 14, 2010 | 05:42 AM EDT

US stock index futures rose Monday, as investors' concerns over Europe's debt crisis eased, and good news about oil and miners pushed the major indices higher.

The United States has discovered nearly $1 trillion in untapped mineral deposits in Afghanistan , far beyond any previously known reserves and enough to fundamentally alter the Afghan economy and perhaps the Afghan war itself, according to senior American government officials quoted by the New York Times.

Miners advanced along with metals futures in London, with Frensilloand Anglo Americanshares both up.

BP shares were down 3.5 percent on news that the cost to clean up the oil spill in the Gulf of Mexico has spiraled to nearly $1.6 billion.

On Monday, the company’s board members will decide whether they will pay their quarterly dividend.

On Wednesday, BP executives at the firm are set to meet with President Barack Obama, who is outlining a plan to legally compel the firm to create an escrow accountto compensate businesses and individuals for their losses from the oil spill in the Gulf of Mexico.

In deal news, Cablevision Systems confirmed its $1.37 billion purchase of Bresnan Communications, an independent operator in the Rocky Mountain region. The fifth-largest cable operator also said it plans a share buyback worth up to $500 million. Shares edged higher in light premarket trading.

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