Observing the stock market technicals and exploring opportunities to trade
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Tuesday, November 8, 2011
US stock futures edge higher ahead of Italian vote
US stock futures edge higher ahead of confidence vote in Italy NEW YORK (AP) -- U.S. stock futures are edging higher ahead of a key
confidence vote in Italy.
Italian bond yields spiked this week, a sign that Europe's debt crisis is far
from over. Unlike Greece, Portugal or Ireland -- all of which received financial
lifelines -- Italy has too much debt to be rescued by its European
neighbors.
Italian Premier Silvio Berlusconi's main coalition ally urged him to step
aside Tuesday ahead of a vote that could force his resignation. Many investors
believe a new government would enact additional austerity measures.
Dow futures were up 65 points, or 0.5 percent, to 12,073 two hours before the
market opened. S&P 500 futures rose 7, or 0.6 percent, to 1,264. Nasdaq 100
futures gained 19, or 0.8 percent, to 2,388.