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 

Stocks head for moderately higher open

Send a link to a friend

[June 16, 2008]  NEW YORK (AP) -- U.S. stocks headed for a moderately higher open Monday as investors awaited a regional manufacturing report and examined a change at the top of insurer American International Group Inc.

DonutsTreasury prices advanced following steep declines last week.

Wall Street is awaiting the New York Federal Reserve Bank's Empire State index, which is due before the opening bell, for insights into the health of the region's industrial sector. The report is the earliest of several monthly regional snapshots that investors look to for insights on economic activity.

Beyond the otherwise light economic calendar Monday, investors were reviewing AIG's decision to name former Citigroup Inc. executive Robert Willumstad as chief executive. Willumstad replaces Martin Sullivan after AIG logged billions in losses on bad bets in the mortgage market.


Dow Jones industrial average futures rose 31, or 0.25 percent, to 12,333. Standard & Poor's 500 index futures rose 4, or 0.29 percent, to 1,359.70 and Nasdaq 100 index futures rose 2.50, or 0.13 percent, to 1,977.00.

Bond prices rose. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 4.22 percent from 4.26 percent late Friday. The dollar was mixed against other major currencies, while gold prices rose.

Light, sweet crude rose 53 cents to $135.39 in premarket electronic trading on the New York Mercantile Exchange.

[to top of second column]



Investors will also likely examine comments from Federal Reserve Chairman Ben Bernanke, who is scheduled to appear at the Senate Finance Committee's Health Reform Summit to discuss challenges for changes to health care.

Overseas, Japan's Nikkei stock average rose 2.72 percent. In morning trading, Britain's FTSE 100 rose 0.24 percent, Germany's DAX index rose 0.20 percent, and France's CAC-40 fell 0.10 percent.


On the Net:

New York Stock Exchange: http://www.nyse.com/

Nasdaq Stock Market: http://www.nasdaq.com/

[Associated Press; By TIM PARADIS]

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.



< 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