Sponsored by: Investment Center

Something new in your business?  Click here to submit your business press release

Chamber Corner | Main Street News | Job Hunt | Classifieds | Calendar | Illinois Lottery 

Stock futures rise after 2 down days

Send a link to a friend

[September 25, 2009]  NEW YORK (AP) -- Stock futures pointed to a modestly higher open Friday as investors try to shake a two-day losing streak.

RestaurantOverseas markets were mixed. Asian indexes closed down overnight, following the lead of U.S. markets Thursday. European markets were modestly higher.

Traders will be watching a meeting of leaders from the world's 20 largest economies in Pittsburgh for indications of how those governments plan to bring about a strong, sustainable recovery.

Investors will also receive reports on durable goods and new home sales as they eye signs of a potential economic rebound.

A report is expected to show durable goods orders, or orders to U.S. factories for items expected to last at least three years, likely grew in August. Economists expect orders increased 0.5 percent last month, marking the third rise in four months.

Growth likely was boosted by the popular Cash for Clunkers program, which provided consumers rebates for trading in older cars for newer, more fuel efficient vehicles.

The Commerce Department's report is due out at 8:30 a.m. EDT.

Ahead of the opening bell, Dow Jones industrial average futures rose 25, or 0.3 percent, to 9,660. Standard & Poor's 500 index futures gained 3.00, or 0.3 percent, to 1,047.30, while Nasdaq 100 index futures rose 3.00, or 0.2 percent, to 1,702.50.

A key report on new homes is also due out Friday morning. The Commerce Department is expected to say new home sales rose 1.6 percent to a seasonally adjusted annual rate of 440,000, compared with the previous month. The increase would be the fifth consecutive monthly increase.

The report is due out at 10 a.m. EDT.

Stocks fell for a second straight day on Thursday after an unexpected drop in existing home sales and a decline in oil renewed worries about the size and pace of any economic recovery.

[to top of second column]

The National Association of Realtors said sales of existing homes dropped 2.7 percent in August after jumping 7.2 percent in July. Economists were expecting sales to rise for the fifth consecutive month.

The collapse in the housing market was central to the recession and analysts say a sustained recovery in sales and prices is needed for a strong economic rebound.

Meanwhile, bond prices mostly rose. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.37 percent from 3.38 percent late Thursday. The yield on the three-month T-bill, considered one of the safest investments, rose to 0.10 percent from 0.08 percent late Thursday.

The dollar mostly fell against other major currencies, while gold prices fell.

Overseas, Japan's Nikkei stock average fell 2.6 percent. In afternoon trading, Britain's FTSE 100 rose 0.6 percent, Germany's DAX index rose 0.2 percent, and France's CAC-40 gained 0.2 percent.

[Associated Press; By STEPHEN BERNARD]

Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Nursing Homes


< Recent articles

Back to top


News | Sports | Business | Rural Review | Teaching & Learning | Home and Family | Tourism | Obituaries

Community | Perspectives | Law & Courts | Leisure Time | Spiritual Life | Health & Fitness | Teen Scene
Calendar | Letters to the Editor