Stock futures point to higher opening

[December 03, 2009]  NEW YORK (AP) -- Wall Street is looking at a stronger open on news that Bank of America Corp. will repay its $45 billion in government bailout money.

The bank, which has been struggling to find a new CEO because of the restrictions on executive pay that came with the bailout, says it will raise more than $18 billion in capital to help fund the repayment. Investors are seeing the bank's move as a sign of its increasing strength.

Meanwhile, investors are awaiting retailers' November sales reports for the first solid look at how the holiday shopping season is faring.

Investors are also drawing some confidence from news that Comcast is paying nearly $14 billion for a majority stake in NBC.

Dow Jones industrial average futures are up 35, or 0.3 percent, at 10,474. Standard & Poor's 500 index futures are up 4.30, or 0.4 percent, at, 1,112.20, while Nasdaq 100 index futures are up 4.50, or 0.3 percent, at 1,796.00.

[Associated Press; By IEVA M. AUGSTUMS]

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 This material may not be published, broadcast, rewritten or redistributed.