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Reply #3: U.S. Stock-Index Futures Advance as Investors Await Monthly Payrolls Data [View All]

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Pale Blue Dot Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-02-11 07:00 AM
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3. U.S. Stock-Index Futures Advance as Investors Await Monthly Payrolls Data
U.S. stock-index futures rose, indicating that the Standard & Poors 500 Index will extend its biggest weekly rally since March 2009, before a report that may show employers added workers at a faster pace last month.

Bank of America Corp. (BAC), the second-biggest U.S. lender by assets, and Citigroup Inc. (C) climbed 1.4 percent in early New York trading. Western Digital Corp. (WDC) advanced 10 percent after the maker of disk drives and networking products raised its quarterly sales forecast.

Futures on the Standard & Poors 500 Index expiring this month advanced 1.2 percent to 1,258.8 at 6:38 a.m. in New York. Dow Jones Industrial Average futures climbed 138 points, or 1.2 percent, to 12,141 today.

The S&P 500 (SPX) rallied 7.4 percent and the market value of global equities increased by more than $3 trillion this week as the Federal Reserve and five other central banks lowered the cost of dollar funding and China cut the proportion that banks need to hold as reserve capital.

http://www.bloomberg.com/news/2011-12-02/u-s-stock-inde...
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