Stock futures up; selloff may be overdone for now
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Stock futures up; selloff may be overdone for now
Fed’s Bullard says central bank should have waited for better data
MADRID (MarketWatch) — U.S. stock market futures pushed higher on Friday, indicating Wall Street may be ready to take a breather from recent heavy selling and buyers may step in before the weekend. There is no data on the calendar.
Futures for the Dow Jones Industrial Average (CBE
JU3) rose 94 points, or 0.6%, to 14,795, while those for the Standard & Poor’s 500 index (GLC:SPU3) rose 12.4 points, or 0.8%, to 1,596.20. Futures for the Nasdaq 100 index (GLC:NDM3) rose 17.5 points, or 0.6%, to 2,897.50.
“The rebound we’re seeing in U.S. futures is simply due to the fact that investors overreacted to [Federal Reserve Chairman] Ben Bernanke’s comments on Wednesday,” said Craig Erlam, market analyst with Alpari U.K., in emailed remarks.
“There was always going to be some kind of correction once the dust settled, it was just a case of whether it would come today or next week,” he said.
http://www.marketwatch.com/story/stock-future...beforebell
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