Stock index futures go upAugust 23, 2011 - 16:45 AMT PanARMENIAN.Net - Stock index futures pointed to a strong open on Wall Street on Tuesday, August 23, with futures for the S&P 500 up 1.97 percent, Dow Jones futures up 1.62 percent and Nasdaq 100 futures up 1.61 percent at 3:54 a.m. EDT, Reuters reported. Banks will be in focus after Swiss lender UBS AG said it plans to slash around 3,500 jobs, almost half of them from its investment bank, as it seeks to shave some 2 billion francs from annual costs by the end of 2013. European stocks were up 1.6 percent in early trade, led by a rebound in cyclical shares such as industrials and miners, but volumes were thin as investors remained wary of another false start after last week's rebound from a 20-percent nosedive quickly fizzled out. Market players were also cautious ahead of U.S. Federal Reserve Chairman Ben Bernanke's key speech at an annual central bank conference in Jackson Hole, Wyoming on Friday, during which he could unveil fresh measures to revive the struggling economy. The Fed chairman looks set to discuss ways the central bank could tweak its balance sheet as a means to put further pressure on medium- and long-term interest rates and anchor them at low levels. These could be implemented in September and October at coming Fed meetings. After the bell on Monday, shares of Goldman Sachs fell 2.4 percent to $104. Goldman CEO Lloyd Blankfein has hired Reid Weingarten, a high-profile Washington defense attorney, according to a government source familiar with the matter. Investigations continue of Goldman and its role in the 2007-2009 financial crisis. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Greece says ready to help as Armenia fights flooding consequences Greece is ready to assist Armenia in combatting the consequences of deadly floods in the country’s north. “He will leave”: Protest leader no longer demands meeting with Pashinyan Archbishop Bagrat Galstanyan no longer demands a meeting with Armenian Prime Minister Nikol Pashinyan. Lemkin Institute petition seeks release of Armenians in Azerbaijan The Lemkin Institute is deeply concerned about the continued illegal detention of political prisoners from Karabakh in Azerbaijan. Armenian Catholicos calls for national unity against threats Karekin II issued a message on Republic Day marking the anniversary of the First Armenian Republic. |