Forex Signal News
2010
U.S. Futures Point to Higher Open (Smart Money)
By William L. Watts FRANKFURT?U.S. stock futures posted modest gains on
Tuesday as investors weighed prospects for Italian Prime Minister Silvio
Berlusconi’s removal from power.More than two hours before the start of
trading, futures on the Dow Jones Industrial Average rose 47 points to 12054.
Standard & Poor’s 500 Index futures gained 3.9 points to 161.4, while Nasdaq
100 futures gained 14.25 points to 2384.Changes in futures don’t always
accurately predict early market moves after the opening bell.Mr. Berlusconi
has resisted calls for his resignation as worries about Italy’s ability to
rein in its debt have grown. A routine budget vote set for mid-afternoon in
Rome is seen as a key test for the Italian prime minister, with failure
potentially setting up a confidence vote.The removal of Mr. Berlusconi?whose
weakening position amid defections from his ruling coalition have raised
doubts about his ability to implement fiscal measures and economic
reforms?would likely be seen as at least a temporary positive for markets
increasingly fearful the euro-zone debt crisis could overwhelm the region’s
third-largest economy. Investors hope that a new government formed in the wake
of a Berlusconi ouster would be able to move more quickly to reassure
markets.”I think …
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