Standard & Poor's 500 Index futures expiring in March added 0.5 percent to 1,366.40 at 11:29 a.m. in New York. Dow Jones Industrial Average futures increased 68 points, or 0.5 percent, to 12,997.
After hitting a six-month high last week, the stock markets may see some downward trend on profit-booking by investors, European stock markets were higher before a meeting of eurozone finance ministers that many hope will finalise a new bailout for Greece.
The S&P 500 advanced 1.4 percent last week, putting it 0.2 percent away from erasing its losses since April, amid optimism Greece will get another bailout and reports on manufacturing, housing and jobless claims that bolstered confidence in the world's largest economy. The stock index is less than 3 points away from completing its recovery from a 19 percent retreat between April and October. Topping 1,363.61 would put the measure at the highest level since 2008.
We expect today to close a long period of uncertainty that has not been to the benefit of either the Greek economy or the euro area as a whole,” Greek Finance Minister Evangelos Venizelos told reporters in Brussels, according to an e-mailed statement from his office in Athens. “Europe knows that what is of importance now is to send clear messages with decisions that are completed and implemented, with rules which are consistent and don't change all the time.”
China cut the amount of cash that banks must set aside as reserves for the second time in three months to spur lending. Reserve requirements will fall by 50 basis points from Feb. 24, the People's Bank of China said on Feb. 18.
Tokyo stocks have opened 0.28 per cent lower as investors await the outcome of eurozone finance ministers' talks on a new bailout for Greece.
The Nikkei 225 index at the Tokyo Stock Exchange on Tuesday opened down 26.41 points at 9,458.68 after European stock markets rose on Monday on hopes that a new Greek bailout package will finally be approved.
dow jones futures outlook feb 21 2012
Dow Jones Futures - + 50
S&P 500 Futures - + 6
Nasdaq Futures - + 5
Gold Futures - 1735.10
Silver Futures - 33.45
Oil Futures - 104.30
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