US stocks move toward higher open
Friday, 12 October 2007
NEW YORK, Oct 11 (AP): Futures signaled a higher opening on Wall Street Thursday after stocks in Asia rose sharply and as US investors appeared ready to buy after a pullback in blue chip stocks Wednesday.
Investors were also awaiting corporate and economic data. PepsiCo was due to report results, while retailers will release their September sales figures. And Wall Street is also awaiting Commerce Department figures on the August international trade deficit and September export and import prices.
The rise in stock futures follows a follows a drop in the Dow Jones industrial average and Standard & Poor's 500 index Wednesday after corporate news stirred concerns about how well companies' profits are faring.
Early Thursday, Dow futures rose 58, or 0.41 per cent, to 14,200. S&P 500 futures rose 6.70, or 0.43 per cent, to 1,580.00, while Nasdaq 100 index futures advanced 9.00, or 0.41 per cent, to 2,205.50.
Bonds fell, with the yield on the benchmark 10-year Treasury note rising to 4.66 per cent from 4.65 per cent late Wednesday. The dollar was lower against other major currencies, while gold prices rose.
Light, sweet crude rose 68 cents to $81.98 in premarket electronic trading on the New York Mercantile Exchange.
Investors were also awaiting corporate and economic data. PepsiCo was due to report results, while retailers will release their September sales figures. And Wall Street is also awaiting Commerce Department figures on the August international trade deficit and September export and import prices.
The rise in stock futures follows a follows a drop in the Dow Jones industrial average and Standard & Poor's 500 index Wednesday after corporate news stirred concerns about how well companies' profits are faring.
Early Thursday, Dow futures rose 58, or 0.41 per cent, to 14,200. S&P 500 futures rose 6.70, or 0.43 per cent, to 1,580.00, while Nasdaq 100 index futures advanced 9.00, or 0.41 per cent, to 2,205.50.
Bonds fell, with the yield on the benchmark 10-year Treasury note rising to 4.66 per cent from 4.65 per cent late Wednesday. The dollar was lower against other major currencies, while gold prices rose.
Light, sweet crude rose 68 cents to $81.98 in premarket electronic trading on the New York Mercantile Exchange.