U.S. Futures Rally On Comments From ECB President
NEW YORK (AP) — U.S. stock futures are jumping sharply after the president of the European Central Bank vowed to preserve at all costs the continent’s monetary union.
The euro has tumbled against the dollar and investors have fled stocks with the debt crisis in Europe threatening to drag more nations there into recession.
Dow Jones industrial futures are up 132 points to 12,769 and the broader S&P futures have added 13.6 points at 1,348.50. Nasdaq futures are up 31 points at 2,574.50 despite more disappointing news from the technology sector.
Zynga and Facebook fell sharply in premarket trading Thursday after Zynga cut its outlook.
However, bank President Mario Draghi said that the “ECB will do whatever it takes to preserve the euro,” apparently providing the assurance markets needed to rally.