You can't keep a good equity index future down, apparently. Dow Jones, S&P 500 and Nasdaq 100 futures have all moved back into the black from negative territory, responding to the release of data that showed an unexpected drop last week in the number of U.S. workers filing initial claims for unemployment benefits. At about 9 a.m. (EST) the March futures contract for the Dow was up 46 points, while the S&P contracts was up 3.4 points and the Nasdaq future was 11.25 points ahead. Investors also appear to be expecting a reiteration of a pledge to chop interest rates to stave off a recession by U.S. Federal Reserve Board chairman Ben Bernanke. He is set to appear before Congress at 10 a.m. Washington time to give his views of a possible government package to stimulate the flagging U.S. economy.
Follow us on Twitter: