Stock futures rose early Tuesday on hopes that policymakers on both sides of the Atlantic will come to the aid of their respective economies — European leaders are determining whether to release more m0ney to Greece and the Fed is meeting today and tomorrow at a special meeting in Washington. Standard & Poor’s downgraded Italy’s sovereign credit rating, but markets didn’t appear to react much. New home construction fell 5%, but permits for new construction rose 3.2%.
Dow futures rose 84 points to 11,407. S&P 500 futures rose 9.4 points to 1,207.2.
ConAgra (CAG) fell 2.9% after announcing earnings; its unsolicited bid to buy Ralcorp (RAH) was rejected yesterday. American Water Works (AWK) boosted its 2011 earnings target, and shares rose 2.1%
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