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Futures Mixed
Published in Saudi Press Agency on 07 - 10 - 2008

U.S. stock futures climbed slightly higher Tuesday after Monday's sell-off, as speculation around interest rate cuts helped to compensate for continued worries over the success of the $700 billion troubled asset buying plan, the turmoil in foreign institutions and a profit warning from Bank of America.
A surprisingly large rate cut from Australia on Tuesday reignited hopes for coordinated measures, but as of publication no moves outside of Sydney have been made. The Bank of Japan held interest rates at 0.5 percent.
S&P 500 futures rose 11.3 points to 1,064.60 and Nasdaq 100 futures rose 19.75 points to 1,426.25. Dow industrial futures added 46 points.
U.S. and global stocks slumped on Monday, with the Dow Jones Industrial Average falling below the 10,000 mark and emerging markets particularly hammered. The Dow industrials dropped 369 points -- it fell as much as 800 points at one time -- the S&P 500 dropped 42 points and the Nasdaq Composite fell 84 points.


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