Wednesday, November 3, 2010

U.S. futures steady ahead of Fed decision.

U.S. stock futures tilted mildly higher Wednesday after a private report had companies hiking payrolls by 43,000 in October and as the Federal Reserve considered more stimulus. Futures for the Dow Jones Industrial Average (DJZ10 11,120, -32.00, -0.29%) gained 15 points to 11,167, and those for the S&P 500 index (SPZ10 1,186, -6.70, -0.56%) added 1.8 points to 1,194.5. Futures for the Nasdaq 100 index (NDZ10 2,141, -9.25, -0.43%) edged up 1.75 points to 2,152. “You’ve got a bit of a buy-the rumor, sell-the-news type of situation here. From a stock-market perspective, this 18% rally we’ve enjoyed over the last couple of months may have priced in” bullish fundamentals, said Phil Orlando, equity market strategist at Federated Investors, citing improvements in the economy, solid third-quarter earnings, expectations of another round of quantitative easing from the Fed and Republican gains in midterm elections.Link

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