U.S. Stock Futures Climb After China Cuts Benchmark Rates
U.S. stock-index futures gained after China cut interest rates for the first time since 2008. Standard & Poor’s 500 Index futures expiring this month advanced 0.7 percent to 1,325 at 7:10 a.m. in New York.
Dow Jones Industrial Average futures rose 0.5 percent to 12,480.
China’s benchmark one-year deposit rate will drop by 0.25 percentage points effective tomorrow, the People’s Bank of China said on its website today.
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