The Day Ahead: Futures Pointing Higher
With the S&P 500 in negative territory for the year, investors put on their rally caps Wednesday in an attempt to regain some ground lost in Tuesday's widespread market selloff. Futures pointed to a higher open following declines of more than 2% on Tuesday in heavy volume on the major indices.
As the U.S. debt ceiling debates fade in the rearview mirror, focus has returned to European debt worries and the global economy. Asian indices closed lower, with most posting sharp declines following Wall Street's bloodbath, spurred by poor economic data. Another factor hurting the markets was the widening spread between yields on Spanish and Italian sovereign bonds vs. German bonds. That renewed worldwide fears of eurozone debt contagion....688 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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