Stock Futures Jump on Discount Rate Cut
Friday August 17, 9:01 am ET
By Lauren Villagran, AP Business Writer
Dow Futures Jump 200 After Federal Reserve Cuts Discount Rate a Half Point
NEW YORK (AP) -- U.S. stock futures soared Friday, erasing an early decline after the Federal Reserve approved a half percentage point cut in its discount rate on loans to banks.
Stock futures rebounded from earlier declines in premarket trading. Dow futures expiring in September jumped 196, or 1.51 percent, to 13,140, while S&P 500 futures climbed 27.40, or 1.92 percent, to 1,451.90. Nasdaq 100 index futures rose 35.00, or 1.89 percent, to 1,891.50
why is the spi up 200 points, page-2
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