You are viewing an obsolete version of the DU website which is no longer supported by the Administrators. Visit The New DU.
Democratic Underground Latest Greatest Lobby Journals Search Options Help Login
Google

Reply #3: U.S. Stock Futures Decline as Investors Await ECB Interest-Rate Decision [View All]

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
Home » Discuss » Latest Breaking News Donate to DU
Pale Blue Dot Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Dec-08-11 06:08 AM
Response to Original message
3. U.S. Stock Futures Decline as Investors Await ECB Interest-Rate Decision
U.S. stock futures retreated as investors awaited announcements from European leaders and the regions central bank on measures to avert a recession and to lay the foundations for fiscal union in the euro area.

Standard & Poors 500 Index futures expiring this month declined 0.1 percent to 1,262.2 at 6:58 a.m. in New York. Futures on the Dow Jones Industrial Average slipped 3 points, or less than 0.1 percent, to 12,211. The Dow rose to its highest level since October yesterday amid optimism that the leaders of the European Union will announce further efforts to halt the sovereign-debt crisis at a summit in Brussels that starts today.

We need a political big bang, said Jacques Porta, a fund manager at Ofi Patrimoine in Paris, who helps oversee about $400 million. The expectations are very high and if we dont get a strong decision, were facing chaos. Investors want the ECB to intervene.

European Central Bank policy makers meeting in Frankfurt will cut the benchmark interest rate to 1 percent from 1.25 percent, according to 53 of 58 economists in a Bloomberg News survey. They may also loosen collateral criteria to give banks greater access to cheap cash and offer longer-term loans, said three euro-area officials with knowledge of the banks deliberations.

http://www.bloomberg.com/news/2011-12-08/u-s-stock-futu...
Printer Friendly | Permalink | Reply | Top
 

Home » Discuss » Latest Breaking News Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators


Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC