U.S. Stock Futures Rally As Dollar/Yen Tumbles

U.S. stock-market futures rallied on Thursday as the dollar fell versus the Japanese yen and Asia stocks jumped. The dollar tumbled after the Bank of Japan lifted its assessment of the economy, but cut growth and inflation views. The dollar had already been pushed lower after Federal Reserve Chairman Ben Bernanke said the central bank won’t be in a hurry to raise short-term interest rates in a speech late Wednesday.

Futures for the Dow Jones Industrial Average jumped 138 points, or 0.9%, to 15,381, while those for the Standard & Poor’s 500 index rose 15.60 points, or 1%, to 1,664.20. Futures for the Nasdaq 100 index jumped 31 points, or 1%, to 3,027.25. Wall Street stocks closed mostly flat on Wednesday after minutes of the most recent Federal Open Market Committee meeting showed multiple members looking for labor-market improvements before cutting back on the Fed’s bond-buying program.

Source : Marketwatch