MSN:Stock index futures edge up on euro zone hopes
NEW YORK (Reuters) - Stock index futures edged higher on Monday as international creditors made progress following a visit to Greece, adding to last week's plans from the European Central bank to lower borrowing costs in Spain and Italy.
However, the euro gave back a few of its recent steep gains, with many traders wary of buying the currency on caution about how effective the action pledged by the ECB would be.
Inspectors from the International Monetary Fund, the European Commission and the ECB concluded a visit to Greece on Sunday saying the talks with the new coalition government were productive.
Trading on Spain's stock exchange was halted on Monday due to a technical problem which was being investigated, a spokesman for the exchange operator said.
Wall Street rallied on Friday to its highest level since early May on a stronger-than-expected U.S. jobs report and renewed hope European authorities would act to contain the euro zone debt crisis.
A group of investors will rescue embattled market maker Knight Capital Group Inc in a $400 million deal that keeps the company in business, Knight said on Monday, but comes at a huge cost to investors. Knight shares fell 30 percent in premarket trading.
S&P 500 futures rose 3.8points and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures rose 19 points, and Nasdaq 100 futures added 13 points.
Cognizant Technology Solutions Corp reported a better-than-expected quarterly profit on increased demand for its outsourcing services, and the information technology services provider raised its full-year adjusted profit forecast.
Israel's Teva Pharmaceutical Industries ,the world's biggest generic drug maker, is being investigated by the U.S. securities regulator over the company's compliance with a U.S. law that prohibits bribery of foreign officials.
General Motors sales in China in July rose 15.1 percent, while sales for the first seven months of 2012 rose 11.7 percent to 1.62 million units.
(Reporting by Rodrigo Campos, editing by Dave Zimmerman)
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