NEW YORK (AP) -- U.S. stock futures rose with the Federal Reserve expected to maintain record-low interest rates and other measures to keep the economy tracking toward a recovery.
The Fed kicks off a two-day meeting Tuesday, and will issue a statement and update economic forecasts Wednesday.
Dow Jones industrial futures rose 19 points to 14,409. The broader S&P futures added 3.5 points to 1,550.30. Nasdaq futures gained 8.25 points to 2,795.25.
Global markets are still rattled by a grab for personal bank savings in Cyprus.
The tiny island nation in the Mediterranean roiled markets this week, announcing hefty taxes on banking accounts over the weekend in a bid to steady its ailing banks and to secure an international bailout.
A report from the Commerce Department on housing pushed futures even higher.
U.S. builders started more houses and apartments in February, while requesting permits for future construction at the fastest pace in 4 1/2 years.
The gains are likely to grow even faster in the coming months. Building permits, a sign of future construction, increased 4.6 percent to 946,000. That was also the most since June 2008, just a few months into the Great Recession.
Thursday, May 23 2013 11:39 AM EDT2013-05-23 15:39:41 GMT
Average rates on fixed mortgage rose for the third straight week, hitting their highest levels since mid-March. Still, mortgage rates remained close to historic lows, a trend that should help sustain the housing recovery.
Average rates on fixed mortgage rose for the third straight week, hitting their highest levels since mid-March. Still, mortgage rates remained close to historic lows, a trend that should help sustain the housing recovery.
Thursday, May 23 2013 7:23 AM EDT2013-05-23 11:23:09 GMT
New Jersey officials have seized inventory and demanded records from 29 bars and restaurants, nearly half of them TGI Fridays, that they say sold low-quality liquor to patrons who thought they were buying premium brands.
New Jersey officials have seized inventory and demanded records from 29 bars and restaurants, nearly half of them TGI Fridays, that they say sold low-quality liquor to patrons who thought they were buying premium brands.
Wednesday, May 22 2013 10:21 PM EDT2013-05-23 02:21:55 GMT
Cooking used to be as simple as putting heat to meat…but not anymore. There are all sorts of high tech gadgets designed to help make our lives simpler and tastier.
Cooking used to be as simple as putting heat to meat…but not anymore. There are all sorts of high tech gadgets designed to help make our lives simpler and tastier.
Wednesday, May 22 2013 2:35 PM EDT2013-05-22 18:35:57 GMT
When it comes to breaking through to the other side, forget Victoria's Secret. Another company, Australia-based HommeMystere, has already done it with lingerie for men.
When it comes to breaking through to the other side, forget Victoria's Secret. Another company, Australia-based HommeMystere, has already done it with lingerie for men.
Wednesday, May 22 2013 10:04 AM EDT2013-05-22 14:04:00 GMT
Chairman Ben Bernanke is telling Congress that the U.S. job market remains weak and that it is too soon for the Federal Reserve to end its extraordinary stimulus programs.
Chairman Ben Bernanke is telling Congress that the U.S. job market remains weak and that it is too soon for the Federal Reserve to end its extraordinary stimulus programs.
Tuesday, May 21 2013 5:25 PM EDT2013-05-21 21:25:20 GMT
Gov. Andrew Cuomo and St. Regis Mohawk tribal leaders have signed an agreement to ensure the Mohawks keep their exclusive casino territory in northern New York while paying the state $30 million in gambling
Gov. Andrew Cuomo and St. Regis Mohawk tribal leaders have signed an agreement to ensure the Mohawks keep their exclusive casino territory in northern New York while paying the state $30 million in gambling
Tuesday, May 21 2013 5:21 PM EDT2013-05-21 21:21:42 GMT
Revel is bankrupt no more. The struggling Atlantic City casino formally emerged from bankruptcy court on Tuesday, just 13 months after it opened with sky-high hopes.
Revel is bankrupt no more. The struggling Atlantic City casino formally emerged from bankruptcy court on Tuesday, just 13 months after it opened with sky-high hopes.
