US futures pushed higher by Fed stimulus call

AP News
Posted: Sep 19, 2013 9:19 AM
US futures pushed higher by Fed stimulus call

NEW YORK (AP) — Stock futures got a big push from the Fed's decision to keep rolling with a massive bond-buying program that has pushed interest rates lower and created heavy volumes of trading.

Major U.S. indexes could head into record territory again Thursday because most economists believed the U.S. had recovered sufficiently to allow for the removal of the financial scaffolding that has propped up the economy throughout the year.

Dow Jones industrial futures rose 25 points to 15,619. S&P futures have gained 4.9 points to 1,722.70. Nasdaq futures are up 11 points to 3,232.75.

Also on Thursday, the U.S reported that the current account trade deficit for three-month period that ended in June was the lowest in nearly three years.

The current account is the broadest measure of national trade because it also includes, in addition to goods and services, the flow of investments.

The spring deficit was the lowest since the third quarter of 2009, when the recession eroded demand for goods from overseas.

The government also reported that the number of Americans seeking unemployment benefits rose 15,000 to a seasonally adjusted 309,000.

However, the data is skewed because of accounting issues in two Western states.

There is more data due later Thursday on home sales and leading indicators.