US stocks move toward flat
Tuesday, 12 June 2007
NEW YORK, June 11 (AP): US stocks headed toward a flat open Monday as markets in Europe and Asia rallied.
The move higher abroad comes after a rebound Friday in US markets following pullbacks earlier in the week. Nonetheless, last week was still Wall Street's worst week in about three months. Some US investors had grown concerned that the Federal Reserve was unlikely to reduce short-term interest rates.
Overseas, Japan's Nikkei stock average rose 0.31 per cent and China's Shanghai Composite Index rose 2.1 per cent. Britain's FTSE 100 rose 0.80 per cent, Germany's DAX index rose 1.07 per cent, and France's CAC-40 rose 0.73.
Dow Jones industrial futures expiring in September fell 1, or 0.01 per cent, to 13,423, while Standard & Poor's 500 index futures rose 13.60, or 0.90 per cent, to 1,521.50. Nasdaq 100 index futures rose 23.25, or 1.22 per cent, to 1,932.25.
The move higher abroad comes after a rebound Friday in US markets following pullbacks earlier in the week. Nonetheless, last week was still Wall Street's worst week in about three months. Some US investors had grown concerned that the Federal Reserve was unlikely to reduce short-term interest rates.
Overseas, Japan's Nikkei stock average rose 0.31 per cent and China's Shanghai Composite Index rose 2.1 per cent. Britain's FTSE 100 rose 0.80 per cent, Germany's DAX index rose 1.07 per cent, and France's CAC-40 rose 0.73.
Dow Jones industrial futures expiring in September fell 1, or 0.01 per cent, to 13,423, while Standard & Poor's 500 index futures rose 13.60, or 0.90 per cent, to 1,521.50. Nasdaq 100 index futures rose 23.25, or 1.22 per cent, to 1,932.25.