Monday 1 October 2012

US stock futures rise on cautious Euro optimism

FILE- In this Sept. 20, 2012, file photo, trader Andrew Silverman, left, works on the floor of the New York Stock Exchange. European stocks edged higher on Monday, Oct. 1, 2012, as investors cautiously welcomed the result of stress tests of Spain's banks. But the threat that Moody's might downgrade the country's debt rating to junk status limited gains.(AP Photo/Richard Drew, File)

FILE- In this Sept. 20, 2012, file photo, trader Andrew Silverman, left, works on the floor of the New York Stock Exchange. European stocks edged higher on Monday, Oct. 1, 2012, as investors cautiously welcomed the result of stress tests of Spain's banks. But the threat that Moody's might downgrade the country's debt rating to junk status limited gains.(AP Photo/Richard Drew, File)

NEW YORK (AP) ? U.S. stock futures are rising as investors cautiously welcome the result of stress tests of Spain's banks and a slight improvement in a survey of the eurozone's manufacturing sector.

Dow futures are up 66 points at 13,421. The broader S&P 500 futures are up 6 point to 1,441. Nasdaq futures are up 16 points at 2,808.

Casting a shadow over markets was a possible downgrade by credit rating agency Moody's of Spain's debt rating to junk status.

Investors will be watching for reports on September manufacturing and August construction spending, both due at 10 a.m. Eastern.

European markets also rose broadly. In Asia, several markets were closed for holidays. In Tokyo, Japan's Nikkei 225 index fell after a survey showed confidence in the economy weakening.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/f70471f764144b2fab526d39972d37b3/Article_2012-10-01-Wall%20Street-Premarket/id-add0de983a8a4e8dba128ac90ae574c0

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