NEW YORK (Reuters) - Stock futures were mixed on Thursday as a new round of stimulus for the economy was not enough to offset worries over the impact of the impending "fiscal cliff".
* In the European Union, finance ministers reached a deal to make the European Central Bank the bloc's top banking supervisor. The move could boost confidence in leaders' ability to tackle the region's sovereign debt crisis.
* But the set of U.S. tax hikes and spending cuts that are set to come into effect in the new year remained at the forefront of investors' minds. Negotiators on Wednesday warned the showdown over reaching a deal could drag on past Christmas.
* The Federal Reserve on Wednesday announced a fresh bout of stimulus for the U.S. economy, but markets focused on comments from Chairman Ben Bernanke, who reiterated that monetary policy would not be enough to offset going over the fiscal cliff.
* Investors are worried that doing so could send the economy back into recession, though most expect a deal will be struck eventually.
* The central bank also took the unprecedented step of indicating interest rates would remain near zero until unemployment falls to at least 6.5 percent.
* In a busy day of data, reports on U.S. producer prices, retail sales and first time claims for unemployment benefits will all be released at 8:30 am ET (1330 GMT). Business inventories are due at 10:00 am ET (1500 GMT).
* S&P 500 futures fell 0.70 points and were below fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures were up 11 points, while Nasdaq 100 futures added 1.25 points.
* Sprint Nextel Corp
* Knight Capital Group Inc
* Australia's GrainCorp Ltd
(Reporting by Leah Schnurr)
Stock futures mixed on "fiscal cliff" worries
This article
Stock futures mixed on "fiscal cliff" worries
can be opened in url
https://newsnapierian.blogspot.com/2012/12/stock-futures-mixed-on-cliff-worries.html
Stock futures mixed on "fiscal cliff" worries