ORIONS Money Stocks

[LoMo]

Stock futures surge on central bank actions
Stock futures surge on global effort to ease European debt worries; Dow futures up nearly 400


Buzz up! 0 Print..Stephen Bernard, AP Business Writer, On Monday May 10, 2010, 6:12 am
NEW YORK (AP) -- Stock futures are surging after European leaders have agreed to a nearly $1 trillion plan to avoid a major debt crisis and the U.S. Federal Reserve will also provide loans.

The 16 countries that use the euro and the International Monetary Fund have agreed to create a rescue fund to support European nations burdened by heavy debt. Investors have been worried that Greek debt problems would spread throughout Europe.

The U.S. Fed is shipping dollars to European central banks that can then loan out money in their home countries.

Dow Jones industrial average futures are up 383, or 3.7 percent, at 10,718. Standard & Poor's 500 index futures are up 49.10, or 4.4 percent, at 1,156.10, while Nasdaq 100 index futures are up 80.50, or 4.4 percent, at 1,929.00.