Futures up as Wall Street gauges economy
Advertisement
Text size: small | medium | large
AP
Published: November 10, 2008
China’s announcement of a major economic stimulus may ripple all the way to Wall Street.
Stock futures trading is up, suggesting a higher open for U.S. stock markets on the heels of today’s Asian rally. All major Asian indices were up after China announced a $586 billion stimulus plan aimed at countering the effects of a global slowdown on its economy.
But Wall Street heads into another turbulent week amid growing signs that Americans are tightening their purse strings. There was fresh evidence this past week when retailers posted the worst October same-store sales in 35 years.
Investors will be paying close attention to earnings outlooks for some of the nation’s biggest retailers, like Wal-Mart, which posts results Thursday. Consumer spending now drives more than
two-thirds of the U.S. economy.
Post a Comment
The commenting period has ended or commenting has been deactivated for this article.
Can't find what you're looking for? Try our quick search:
