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US STOCKS-Futures tick higher after recent weakness
September 10, 2014 / 12:07 PM / in 3 years

US STOCKS-Futures tick higher after recent weakness

NEW YORK, Sept 10 (Reuters) - U.S. stock index futures were a touch higher on Wednesday, suggesting investors found few reasons to jump back into the market even after a recent string of weakness.

* The S&P 500 fell sharply on Tuesday, closing under its 14-day moving average for the first time since Aug. 12, a cautious signal for short-term momentum. The weakness came on concerns the Federal Reserve could raise interest rates sooner than some investors had expected, worries that took the yield on the benchmark 10-year U.S. Treasury note to 2.5 percent, its highest in a month.

* The positive momentum in stocks has largely come on accommodative policies from the Federal Reserve, including low rates, which currently remain in place. The S&P hasn’t had a correction - defined as a 10 percent drop from a peak - since 2012. Since then, investors have used any market decline as a buying opportunity.

* That uptrend appears intact. The S&P closed at a record on Friday and remains less than 1 percent from that level despite falling in five of the past six sessions.

* In company news, Dollar General Corp said it would take its $9.1 billion offer to buy Family Dollar Stores Inc directly to the company’s shareholders in a hostile bid.

Futures snapshot at 6:52 a.m. EDT (1052 GMT):

* S&P 500 e-minis are up 1.25 points, or 0.06 percent, with 146,195 contracts changing hands.

* Nasdaq 100 e-minis are gaining 6.25 points, or 0.15 percent, in volume of 22,128 contracts.

* Dow e-minis are up 14 points, or 0.08 percent, with 21,942 contracts changing hands. (Editing by Bernadette Baum)

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