Futures Market News
Stock index futures push upwards across the Americas
Jul 22, 2010 10:32 AM
Positive signals from a growing European economy and solid earnings from consumer and industrial firms like EBay and Caterpillar helped buoy U.S. stock futures on Thursday.
In the Southern Hemipshere, futures on Brazil's Bovespa stock index also rose, as the central bank may stop raising interest rates in South America's largest country. Henrique Meirelles, the central bank governor, announced that the benchmark Selic rate would rise 50 basis points to 10.75 percent, but it will probably remain there for the foreseeable future.
The generally optimistic news helped Dow Jones Industrial Average index futures rise 100 points to 10,158 at 8:50 a.m. EST, while the S&P futures showed a gain of 12.6 points to 1,076.5 and the the NASDAQ was up 17.75 points to 1,833.25. In Brazil, Bovespa futures climbed 885 points to 65,780, while futures on Mexico's Bolsa were up 29 points to 32,364.
Yesterday the stock market gave a shaky performance as early optimism from Apple's stellar earnings figures gave way to general pessimism when Ben Bernanke, chairman of the U.S. Federal Reserve, said that the economic picture was "unusually uncertain."
Once again, corporate profits outstripped economic fundamentals like unemployment and homebuilding, so while equities may continue to show gains, the macroeconomic situation may not yet improve. 
Don’t Miss Our News Updates!
Share dt News:
Follow our breaking news stories and get a unique take on current events that may impact the commodity futures markets. Multiple new articles are posted each weekday. Subscribe to our commodity news updates by email, and receive real-time updates with our RSS feed, follow us on Twitter @DanielsTrading, become a fan on Facebook to stay informed.
SPECIAL OFFER: Euro/Dollar in a Time of Crisis
Sign up for our FREE report and gain insight about the current global crisis through our extensive research and analysis!
Download this exclusive report as we examine current global events, the present impacts on market prices and volatility, and potential outcomes of the Eurozone crisis.
Special Offer
Register for Your Free 2-Week Trial of the dt Insider Market Advisory!
With your free trial membership, you'll receive full access to our exclusive trade recommendation service and all of the timely and accurate trade information you need to feel comfortable participating in the markets.
