Stock futures point to rebound on Wall Street
Wednesday, 13 May 2009
NEW YORK, May 12 (Reuters): Stock index futures pointed to a higher open on Wall Street Tuesday after the previous session's bout of profit taking.
At 4:52 a.m. EDT, futures for the S&P 500 were up 0.4 per cent, Dow Jones futures were up 0.4 per cent and Nasdaq 100 futures were up 0.6 per cent.
Ford Motor Co. (F.N) will be in focus after it said late Monday that it would sell 300 million common shares and use part of the proceeds to pay off its healthcare obligations to the United Auto Workers under the terms of a recently concluded deal with the union. Ford shares traded in Frankfurt (F.F) were down 6.4 per cent.
Bank of America (BAC.N) sold about $7.3 billion worth of shares in China Construction Bank (601939.SS) to a group of investors, a source said on Tuesday, as the struggling US bank seeks to raise cash. Bank of America shares in Frankfurt (BAC.F) eased 0.2 per cent.
Boeing Co (BA.N) will also be in the spotlight after Airbus parent EADS (EAD.PA) posted a 70 per cent slide in first-quarter operating profit after a new charge for its delayed A400M military transport plane, and cut its forecast for civil plane orders, pushing its shares down 6 per cent.
In the auto sector, Japan's Nissan Motor Co (7201.T) lost $2.4 billion in the fourth quarter amid a global slump in car sales, and forecast more losses for the current year as it puts product launches and growth plans on hold to conserve cash.
At 4:52 a.m. EDT, futures for the S&P 500 were up 0.4 per cent, Dow Jones futures were up 0.4 per cent and Nasdaq 100 futures were up 0.6 per cent.
Ford Motor Co. (F.N) will be in focus after it said late Monday that it would sell 300 million common shares and use part of the proceeds to pay off its healthcare obligations to the United Auto Workers under the terms of a recently concluded deal with the union. Ford shares traded in Frankfurt (F.F) were down 6.4 per cent.
Bank of America (BAC.N) sold about $7.3 billion worth of shares in China Construction Bank (601939.SS) to a group of investors, a source said on Tuesday, as the struggling US bank seeks to raise cash. Bank of America shares in Frankfurt (BAC.F) eased 0.2 per cent.
Boeing Co (BA.N) will also be in the spotlight after Airbus parent EADS (EAD.PA) posted a 70 per cent slide in first-quarter operating profit after a new charge for its delayed A400M military transport plane, and cut its forecast for civil plane orders, pushing its shares down 6 per cent.
In the auto sector, Japan's Nissan Motor Co (7201.T) lost $2.4 billion in the fourth quarter amid a global slump in car sales, and forecast more losses for the current year as it puts product launches and growth plans on hold to conserve cash.