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Reply #3: U.S. Stock-Index Futures Gain After EU Summit [View All]

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Pale Blue Dot Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 07:13 AM
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3. U.S. Stock-Index Futures Gain After EU Summit
U.S. stock-index rose, indicating the Standard & Poors 500 Index (SPX) will pare this weeks drop, after European leaders agreed to boost a rescue fund and tighten budget rules to stem the regions debt crisis.

Cooper Companies Inc., the maker of contact lenses, advanced 3 percent in Germany after its annual profit forecast topped analysts projections. Texas Instruments (TXN) Inc. sank 6.4 percent in early New York trading as a sales forecast from the largest maker of analog chips fell short of estimates.

Futures on the S&P 500 expiring in March gained 0.8 percent to 1,240.4 at 11:41 a.m. in London before reports on consumer confidence and trade. Dow Jones Industrial Average Index futures added 95 points, or 0.8 percent, to 12,039.

The S&P 500 has declined 0.8 percent this week after the gauge slid 2.1 percent yesterday as the European Central Bank damped speculation it would boost purchases of government bonds.

I dont think theres much of a disappointment in the summit that weve seen overnight, Otto Waser, chief investment officer at Research & Asset Management AG in Zurich, told Bloomberg Television. I think were right on track. Were 20 percent where we should be towards fiscal union to rescue the euro.
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