Dollar Drop Silver up...
Aug. 21, 2012, 9:12 a.m. EDT
U.S. stock futures up with Europe
By Kate Gibson and William L. Watts, MarketWatch
NEW YORK (MarketWatch) — U.S. stock-index futures rose Tuesday on hopes the European Central Bank will step in to reduce borrowing costs for troubled euro-zone governments and contain the region’s debt crisis.
“Germany seems willing to give a little on Greece, not with new money but with easier terms on debt owed and possibly some more time to meet budget targets,” emailed Peter Boockvar, equity strategist at Miller Tabak. See markets stream .
Greece prepares further $14.2 billion in cuts
Details of Greece's €11.5 billion ($14.2 billion) austerity plan are emerging as Prime Minister Antonis Samaras moves to demonstrate his government is serious about cost-cutting efforts ahead of meetings with European leaders later this week. Alkman Granitsas reports. Photo: Reuters
Futures on the Dow Jones Industrial Average (CBOT:DJU2) gained 38 points, or 0.3%, to 13,267. S&P 500 futures (GLC:SPU2) advanced 4.8 points, or 0.3%, to 1,419.5, while Nasdaq-100 futures (CME:NDU2) rose 11.75 points, or 0.4%, to 2,791.75.
European markets were lifted after news reports highlighted remarks Monday by ECB Executive Council Member Joerg Asmussen, who backed the concept of renewed bond buys by the central bank in an interview with a Frankfurt newspaper. Read: Europe stocks up as banks, miners rise.
The ECB on Monday said a weekend news report that it was weighing a plan to cap sovereign yield spreads within the euro zone was misleading, while Germany’s Bundesbank reiterated its opposition to any renewed ECB bond purchases.
Wall Street posted a virtually flat finish on Monday. No major economic data are on tap Tuesday, leaving investors to look ahead to Wednesday’s release of the minutes from the latest meeting of the Federal Reserve’s policy-making committee.
