US stocks set to rise after Dow falls below 12,000
Sunday, June 12, 2011
NEW YORK (AP) -- Stocks are set for a modestly higher opening after the Dow Jones industrial average fell below 12,000 for the first time since March last week.
Weak economic news has sent stocks lower for six straight weeks. Investors are worried about a dismal housing market, a slowing manufacturing industry and a sluggish jobs market. The S&P 500 is down 6 percent in June.
No economic reports are due out Monday. Still, Dow Jones industrial average futures are up 30, or 0.3 percent, at 11,903. Standard & Poor's 500 futures are up 3, or 0.3 percent, at 1,267. Nasdaq 100 futures are up 3, or 0.1 percent, at 2,221.
Wendy's/Arby's Group Inc. is up 7 percent in pre-market trading after the company said it would sell control of its Arby's business to a private equity group.