Advertisement

You will be redirected to the page you want to view in  seconds.

Stock futures rise after ECB moves to boost Europe

9:38 AM, Jun. 5, 2014  |  Comments
  • Filed Under

NEW YORK (AP) - U.S. stock futures headed higher Thursday after the European Central Bank took new steps to boost the region's sluggish economy. The euro weakened against the dollar and U.S. government bond prices dipped.

KEEPING SCORE: About 45 minutes before U.S. markets opened, Dow Jones industrial average futures rose 53 points, or 0.3 percent, to 16,772. Standard & Poor's 500 index futures gained five points, also 0.3 percent, to 1,931 while Nasdaq 100 futures are up eight points, or 0.2 percent, to 3,751. On Wednesday, the S&P 500 index closed at another all-time high.

EUROPEAN MARKETS: Germany's main stock index, the DAX, rose 0.3 percent, while France's CAC 40 gained 0.8 percent. Britain's FTSE 100 edged up 0.1 percent.

NEW MOVES: The European Central Bank cut two key interest rates on Thursday, pushing one of them into negative territory. The ECB lowered the rate it pays on money deposited by banks from zero to minus 0.1 percent, essentially charging banks to hold their money in an effort to prod them into lending money instead of hoarding it.

The central bank also said it was willing to take more steps to support the region's economy if needed, including buying bonds.

JOBS: The number of Americans applying for unemployment benefits crept up last week to 312,000, according to the Labor Department. The report heightens speculation that the government's monthly jobs report, due out Friday, could reveal a modest slowdown in hiring in May. Also underscoring that concern was a report from payroll processer ADP on Wednesday that showed private employers pulling back on hiring last month.

Economists estimate that employers added 220,000 jobs in May and that the unemployment rate inched up to 6.4 percent from 6.3 percent as more people hunt for work.

BONDS AND COMMODS: In the market for U.S. government bonds, the yield on the 10-year Treasury rose to 2.62 percent from 2.60 percent late Wednesday. Yields rise when bond prices dip. The price of oil slipped 39 cents to $102.25 a barrel.

What's your take on the Packers Family Night change?

Retrieving results.
Watching practice is fine.(Your vote)
15%
573 votes
I'd rather watch a scrimmage.(Your vote)
23%
854 votes
I don't want to pay to watch practice.(Your vote)
27%
1011 votes
It doesn't matter to me.(Your vote)
34%
1268 votes

Catch up on the latest in our pregame show every game day.

Football fans

If you've ever answered "Who has the ball?" with "It's halftime," you might recognize The Airhead. Check out the characters in our cartoon gallery of oddball fans.

Special Reports

ORDER YOURS

Football fans

If you've ever answered "Who has the ball?" with "It's halftime," you might recognize The Airhead. Check out the characters in our cartoon gallery of oddball fans.

Special Reports