Monday, December 3, 2012

US futures up ahead of reports on industry, autos

This Nov. 30, 2012, photo provided by CBS News shows Treasury Secretary Timothy Geithner answering questions about averting the "fiscal cliff" on the December 2nd edition of ?Face the Nation.? Geithner said Republicans have to stop using fuzzy ?political math? and say how much they are willing to raise tax rates on the wealthiest 2 percent of Americans and then specify the spending cuts they want, Treasury Secretary. (AP Photo/CBS News, Chris Usher)

This Nov. 30, 2012, photo provided by CBS News shows Treasury Secretary Timothy Geithner answering questions about averting the "fiscal cliff" on the December 2nd edition of ?Face the Nation.? Geithner said Republicans have to stop using fuzzy ?political math? and say how much they are willing to raise tax rates on the wealthiest 2 percent of Americans and then specify the spending cuts they want, Treasury Secretary. (AP Photo/CBS News, Chris Usher)

(AP) ? U.S. stock futures are rising ahead of reports on the manufacturing and auto industries.

Dow Jones industrial futures are up 43 points to 13,051. The broader S&P futures have added 5.6 points to 1,420. Nasdaq futures are up 15.5 points to 2,691.25.

November auto sales are likely to be the highest since March of 2008 when calculated on an annual basis, according to LMC Automotive, a Detroit-area industry consulting firm. Automakers report U.S. sales throughout the day on Monday.

And economists expect that U.S. manufacturing expanded in November, though at slower pace because of the effects of Superstorm Sandy.

The Institute for Supply Management releases its index at 10 a.m. Eastern.

Markets may remain fluid throughout the week because of the standoff over the U.S. budget.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/f70471f764144b2fab526d39972d37b3/Article_2012-12-03-Wall%20Street-Premarket/id-6807c03728254873996180b579708d4b

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