Stock futures up as European pledge to help banks
Sunday, October 9, 2011
NEW YORK (AP) -- Stocks futures are rising after the leaders of France and Germany vowed to strengthen Europe's banks to help them weather the region's debt crisis.
German Chancellor Angela Merkel and French President Nicolas Sarkozy on Sunday said a "comprehensive response" to the debt crisis would be finalized by the end of the month, including a plan to ensure banks have adequate capital.
That reassured investors, even though the leaders provided few specifics on how the plan would work.
Ahead of the opening bell, Dow Jones industrial average futures are up 125 points, or 1.1 percent, at 11,191. Standard & Poor's 500 futures are up 14, or 1.2 percent, at 1,169. Nasdaq 100 futures are up 29, or 1.3 percent, at 2,230.
The bond market is closed for the Columbus Day holiday.