Stock Futures Jump On Wells Fargo Profit Surprise

By: Associated Press Email
By: Associated Press Email

Stay up-to-date with KAKE News:

Thursday, April 9, 2009

Wall Street is poised for a sharply higher open after Wells Fargo forecast a record $3 billion profit for the first quarter.

The news from Wells is a welcome sign for investors who have been looking for signs o whether the credit and lending markets have improved in recent months.

Economic news was mixed. The government said Thursday new jobless claims fell more than expected last week. But those continuing to receive unemployment insurance set another record.

The government also says the U.S. trade deficit plunged unexpectedly in February.

The Dow Jones industrial average futures are surging, up 148 at 7,941. Standard & Poor's 500 index futures are up almost 16 at 838, while Nasdaq 100 index futures are up 19.5 at 1,318.

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