Futures Market News
JPMorgan earnings, QE help boost stock index futures
Oct 13, 2010 08:21 AM
A surprisingly optimistic earnings release from JPMorgan Chase - the investment bank which has perhaps emerged stronger, rather than weaker, from the global credit crunch - helped buoy traders' sentiment today, as nearly every stock index futures contract around the world rose.
"With fiscal policy stretched to the limit, central banks are the only ones left to add more punch to the bowl," Allan von Mehren at Danske Bank told the Financial Times this week. "This is now happening through quantitative easing in Japan and will almost certainly happen in the US and down the road also in the UK."
Dow Jones Industrial Average index futures rose 67 points to 11,024, while S&P 500 futures climbed 8.2 points to 1,172.70 at 9:02 a.m. EST. Nasdaq 100 index futures jumped 14.75 points to 2,051.75.
In Japan, Nikkei 225 index futures climbed 70 points to 9,480, while across the sea in Hong Kong, Hang Seng index futures jumped 455 points to 23,581 at 4:15 a.m. EST.
Brazilian Bovespa index futures surged 585 points to 71,5000 at 8:57 a.m. EST, while FTSE 100 index futures rose 78.5 points to 5,725.
DJ Euro Stoxx 50 index futures gained 53 points to 2,818.
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