US futures edge up; Bernanke back before Congress

Published on NewsOK Modified: February 27, 2013 at 7:58 am •  Published: February 27, 2013
Advertisement
;

NEW YORK (AP) — U.S. futures rose Wednesday on reassurances from the U.S. central bank that the low-interest rate policies will continue.

There was also some positive data from the manufacturing sector.

Dow Jones industrial futures rose 17 points to 13,876. The broader S&P futures added 1.5 points to 1,493.90. Nasdaq futures gained 4.25 points to 2,712.

Markets were rattled one week ago when the minutes from the Federal Reserve policy meeting in January left the impression that some bank officials had grown leery of ongoing stimulus programs.

But in subsequent days, Fed officials appeared to walk back from the perception that the minutes had left. On Tuesday, Bernanke said that the bond-buying program that has pumped billions into the economy has been a success and gave no indication that the Fed would release those levers any time soon.

Bernanke is testifying Wednesday before the House Financial Services Committee.

Also on Wednesday, a report from the Commerce Department revealed a spike in orders for factory goods in January, suggesting that businesses are growing increasingly optimistic.



Trending Now


AROUND THE WEB

  1. 1
    College of Charleston president orders second investigation of Doug Wojcik
  2. 2
    Joe Paterno's son Jay sues Penn State for 'improper termination'
  3. 3
    Former Dallas Cowboys running back Robert Newhouse dead at 64
  4. 4
    Oklahoma man gets consecutive 20-year terms for rapes of intellectually challenged classmates
  5. 5
    Angels won't cap former OU pitcher Garrett Richards' innings
+ show more