With Hurricane Gustav taking a lesser toll on the Gulf Coast than originally expected, oil prices sank to a five-month low and U.S. stock-index futures improved this morning, Bloomberg reported.

Crude oil for October delivery fell to a low of $105.46 a barrel today, down 8.7 percent from the closing price on Aug. 29 on the New York Mercantile Exchange. This boosted earnings outlooks for airlines and automakers, with Delta Air Lines Inc., UAL Corp. and AMR Corp. stock rising more than 12 percent and General Motors Corp. gaining 3 percent in early morning trading.

Lehman Bros. Holdings Inc.’s stock also gained 7 percent on talk that Korea Development Bank would buy a stake in the fourth-largest American securities firm. Bank of America Corp. rose 3.8 percent after Goldman Sachs Group Inc. analysts recommended buying the bank’s shares because of its “long-term earnings power,” and ability to raise capital without issuing common shares.

As of 11 a.m., the Dow Jones industrial average was up 166.01 points to 11,709.56, the Nasdaq composite index was up 18.77 points to 2,386.29 and the Standard & Poor’s 500 index was up 10.05 points to 1,292.88.