Stock Futures Up Ahead of Open

The financial health of Europe's banks is still in question but stock futures still rose slightly Wednesday.
By: Jonathan Andersen - Press Officer
Sept. 8, 2010 - PRLog -- An auction for Portugal's debt saw strong demand which in turn has helped push European indices higher not to mention reversing what was an initial drop in US stock futures.

Edward Warren, A Vice President at Bristol Financial in Luxembourg says "Investors in the US are concerned about the amount of risky government debt that European Banks are currently holding. Despite the Bullish last four days in the US markets, this sort of thing weighs heavy on investor sentiment"

A report being published by the Federal Reserve on Wednesday afternoon should provide more insight into the recovery in the US by breaking down economic activity across the country, region by region.

The Fed has exercised caution in any statements released about the economy recently to avoid being the catalyst for a rally in the markets.

Ahead of the opening bell, DJIA futures rose 37, or 0.4 percent, to 10,375. S&P 500 index futures rose 4.20, or 0.4 percent, to 1,095.40, while Nasdaq 100 index futures rose 9.50, or 0.5 percent, to 1,867.00.

Bond prices lost some ground. The yield on the 10-year Treasury note, rose to 2.62 percent from 2.60 percent. This yield is often used to help set interest rates on mortgages and other consumer loans.

Many investors are still looking to safe havents such as precious metals in an effort to avoid investing in stocks. Gold rose $2.20 to $1,261.50 an ounce. The yen reached it's highest point in 15 years against the dollar.

FTSE 100 in the United Kingdom rose 0.3 percent, In Europe Germany's DAX index gained 0.5 percent, and France's CAC-40 rose 0.7 percent. Japan's Nikkei stock average fell by 2.2 percent.

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