Stock Futures Moving Higher as Budget Talks Proceed

Stock Futures Moving Higher as Budget Talks ProceedNEW YORK -- U.S. stock futures are moving higher on optimism over a deal on the U.S. budget ahead of a high-level meeting between the Treasury chief and Senate leaders.

Dow Jones industrial futures are up 72 points to 13,029. The broader S&P futures have added 8.3 points to 1,415.50. Nasdaq futures are up 19 points to 2,679.50.

Treasury Secretary Timothy Geithner is meeting with Senate Republican Leader Mitch McConnell and Senate Democratic Leader Harry Reid on Wednesday to push budget negotiations ahead.

Also, before the opening bell, the Labor Department reported weekly jobless claims and Commerce released a revision of economic growth numbers between July and September.

Growth was revised to a 2.7 percent annual economic growth rate, significantly better than the 2 percent rate initially estimated last month.

Meanwhile, the number of Americans seeking initial unemployment benefits fell by 23,000 to a seasonally adjusted 393,000 last week. It was the second straight drop after Superstorm Sandy drove applications much higher earlier this month.

Information from articles by AP Economics Writers Christopher S. Rugaber and Martin Crutsinger was added to this article.

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As of 11:45am it looks like they are moving down again!

November 29 2012 at 11:44 AM Report abuse rate up rate down Reply

This is like asking the people who torched your house to help put out the fire by using a flame thrower.

November 29 2012 at 11:31 AM Report abuse +1 rate up rate down Reply

Looks very much like the rock-headed Republicans and the liberal Democrats are moving close to an agreement...

Watch the market sky-rocket if/when an agreement is announced.

November 29 2012 at 11:18 AM Report abuse +1 rate up rate down Reply

Fragile market. Daily speculation up swing(s) of energy. Back to the same old. Not good for right now or in the near future. Energy must be supervised, and stablized before it again helps send the economy back down the slippery slope.

November 29 2012 at 11:01 AM Report abuse +1 rate up rate down Reply

What a joke..............not even close. Just another day for the WS thieves to make a buck. Europe and China economy is doing nothing. Jobs are not important in America since the king has lots of serfs (51%).
I remember a promise from the gods of congress there would be NO more 11th hour crap and then they sat down with their thumbs up their ass and did nothing until the last minute. The joke is on us Americans. We even stupidly re-elected most and the few changes in congress will have no impact, The stock market as our economies standard is an even bigger joke when you consider what has gone on over the last 5 years.

November 29 2012 at 10:39 AM Report abuse -1 rate up rate down Reply

WHAT A JOKE.!!!!!!!!!!!!!!!!!!! We all know that this is a JOKE PLAYED ON THE AMERICAN PEOPLE,,,
Obama will give,,,then take,,,,JAN1,,,,WE WILL BE BACK ON THE SAME CLIFF....

November 29 2012 at 10:14 AM Report abuse rate up rate down Reply