US futures head higher as Fed gathers

AP News
Posted: Dec 11, 2012 8:08 AM
US futures head higher as Fed gathers

NEW YORK (AP) — U.S. stock futures are rising in anticipation that the Federal Reserve will announce new measures to ramp up the U.S. economy.

Dow Jones industrial futures are up 28 points to 13,215. The broader S&P futures have added 2.7 points to 1,422.90. Nasdaq futures are up 5.5 points to 2,656.

Many expect the Fed to initiate a new bond-buying plan at the end of its two-day meeting Wednesday, hoping to tempt companies and individuals to borrow through low interest rates. The current program expires this year.

Also Tuesday, the Treasury Department says it is selling the last of its shares of American International Group Inc., moving closer to wrapping up the government's biggest bailout of the 2008 financial crisis.

The Treasury has received $22.7 billion more than the $182 billion it provided AIG.