U.S. Stock Futures Rise on Optimism Over Europe Crisis
U.S. stock futures rose, indicating the Standard & Poor’s 500 Index will rebound from yesterday’s decline, as Germany’s highest court said it won’t delay its ruling on the euro area’s permanent bailout fund.
Alcoa Inc. (AA) and Cliffs Natural Resources Inc. (CLF) climbed at least 0.8 percent as investors bought shares of companies most tied to economic growth. Green Mountain (GMCR) Coffee Roasters Inc. advanced 1.9 percent after Luigi Lavazza SpA increased its stake in the company. Coach (COH) Inc. and Ralph Lauren Corp. (RL) paced declines among luxury goods companies as Burberry Group Plc said profit will be at the lower end of estimates.
S&P 500 futures expiring this month added 0.3 percent to 1,431 at 8:33 a.m. in New York. Dow Jones Industrial Average futures rose 40 points, or 0.3 percent, to 13,277 today.
“In Europe, there has been a lot more delay in making decisions than in the U.S.,” said Kully Samra, who manages U.K.-based clients for Charles Schwab Corp., which has $1.8 trillion of assets globally. “The fact that some of these decisions are now being made is absolutely a good thing.”