US Futures Up with EU Bailout Fund Hurdle Cleared
NEW YORK (AP) – U.S. stock futures are rising after Germany’s highest court rejected efforts to block a $640 billion rescue fund for Europe’s economically struggling nations and ahead of the meeting by the Federal Reserve, which is expected to announce new stimulus measures to revive the U.S. economy.
Dow Jones industrial futures are up 38 points to 13,331. The broader S&P futures have gained 5.2 points to 1,435.80. Nasdaq futures tacked on 13 points to 2,792.25.
A broad coalition of interests in Germany, Europe’s economic powerhouse, opposes the bailout for varying reasons. The Federal Constitutional Court’s decision Wednesday clears the way for the establishment of a bailout fund and, it is hoped, more stability in Europe.
Investors will be watching the Fed, whose monetary policymaking body is gathering for a two-day meeting starting Wednesday.