NEW YORK, Aug 22 (Reuters) - U.S. S&P 500 futures shot up after the close on Wednesday as the Wall Street Journal reported Bank of America Corp. (BAC.N: Quote, Profile, Research) plans to invest $2 billion in preferred stock issued by mortgage lender Countrywide Financial Corp. (CFC.N: Quote, Profile, Research)
S&P 500 futures (SPc1: Quote, Profile, Research) were up 10.40 points, well above fair value, a formula to evaluate pricing taking into account interest rates, dividends and time to expiration on the contract.
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