Stock Futures Edge Higher After Yellen Remarks
NEW YORK (AP) — U.S. stock futures rose in pre-market trading Tuesday as new Federal Reserve Chair Janet Yellen signaled the central bank would continue to dial back its stimulus program if the economy keeps improving.
KEEPING SCORE: Dow Jones industrial average futures climbed 27 points to 15,766 with 30 minutes to go before the opening bell. Standard & Poor’s 500 index futures gained two points to 1,796 and the Nasdaq futures climbed eight points to 3,586.
FED CONTINUITY: In her first public comments since taking over the top Fed job last week, Yellen said Tuesday that she expects a “great deal of continuity” with her predecessor, Ben Bernanke. She signaled that she supports his view that the economy is strengthening enough to withstand a pullback in stimulus, but that rates should stay low to fuel further growth.
BARCLAYS JOB CUTS: Barclays fell 5 percent in pre-market trading after the British bank, citing a slowdown in its investment banking division, said it would slash up to 12,000 employees.
(Story by: The Associated Press)