Futures up solidly ahead of Fed meeting


| Zoom

NEW YORK (AP) - Stock futures rose sharply ahead of the Fed's two-day policy meeting.

There was also a pair of multibillion-dollar buyouts Monday.

Dow Jones industrial futures rose 91 points to 15,792. S&P futures gained 9.7 points to 1,778.20. Nasdaq futures tacked on 15.75 points to 3,469.

The U.S. Federal Reserve will release a statement and projections for the economy Wednesday and the wording of that statement will be key.

Economists were almost unanimous in believing that the U.S. Federal Reserve would not begin winding down its monthly $85 billion bond-buying program just yet.

Recent economic data on jobs and consumer behavior now have some thinking that policymakers may begin hinting at a withdrawal.

Fed Chairman Ben Bernanke said over the summer that before the government begins to pull back, he'd like to see a more stable employment picture, an inflation rate closer to the Fed's 2 percent target, and rising economic activity.

The government reported Monday that U.S. workers increased productivity from July through September, the fastest clip since late 2009.

It was the latest potential indicator of sustained economic growth.

Also on Monday, AIG announced the sale of its aircraft leasing business for about $5.4 billion. And the chipmaker Avago Technologies is buying LSI Corp. for $6.6 billion.

The Fed reports on output for industrial production in November as well Monday.

A closely watched report from the Institute for Supply Management, a private group of purchasing managers, recently showed factory activity climbed in November at the fastest pace in 2 1/2 years.


(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

Top Stories

  • 'Boondoggle'
    Seattle's beleaguered tunnel project earns a spot atop a list of 11 'highway boondoggles'

  • 'No War on Cars'
    New head of Seattle DOT on controversies, congestion & the battle between bikes and cars

  • Prost!
    10 people you can't escape at Oktoberfest
ATTENTION COMMENTERS: We've changed our comments, but want to keep you in the conversation.
Please login below with your Facebook, Twitter, Google+ or Disqus account. Existing MyNorthwest account holders will need to create a new Disqus account or use one of the social logins provided below. Thank you.
comments powered by Disqus
Sign up for breaking news e-mail alerts from MyNorthwest.com
In the community
Do you know an exceptional citizen who has impacted and inspired others?
KIRO Radio and WSECU would like to recognize six oustanding citizens this year. Nominate them to be recognized and to receive a $2,000 charitable grant.