Futures rise as second Greece rescue looks likely
Wednesday, June 29, 2011
NEW YORK (AP) -- Stock futures are edging up as Greece prepares to clear another hurdle to its debt rescue package.
Greek lawmakers are close to passing an austerity bill that will qualify the country for crucial bailout funds. The prospect of averting a widespread European debt crisis has sent markets higher for three straight days.
But stocks will likely close lower for the quarter at the end of a volatile three months.
Ahead of the opening, the Labor Department will also report on how many people applied for initial unemployment benefits last week.
Dow Jones industrial average futures are up 24 points, or 0.2 percent, at 12,242. Standard & Poor's 500 index futures are up 2, or 0.2 percent, at 1,306. Nasdaq 100 futures are up 5, or 0.2 percent, at 2,299.