• Most Popular
  • Most Shared

US stock futures extend gains on GM bankruptcy details

Sun May 31, 2009 10:41pm EDT

HONG KONG, June 1 (Reuters) - U.S. stock futures added to gains while Treasury futures extended declines on Monday after details emerged about a bankruptcy filing by General Motors Corp GM.N expected later on Monday.

Stocks  |  Bonds

S&P 500 futures SPc1 were up 0.6 percent, extending earlier gains made after a Chinese manufacturing index reflected a third consecutive month of expansion.

The 10-year U.S. Treasury future TYc1 was down 0.3 percent.

General Motors Corp GM.N will file for bankruptcy protection before financial markets open Monday morning, sources with direct knowledge of the preparations said. [ID:nN31395352] (Editing by Kim Coghill)

Stocks
Bonds


More from Reuters

Photo

Fed keeps rates near zero, but voices some optimism

WASHINGTON (Reuters) - The Federal Reserve on Wednesday voiced guarded optimism the battered U.S. job market was improving, but it repeated a vow to keep interest rates extraordinarily low for "an extended period." | Video

» More Top News
An an exit sign is pictured in New York City October 14, 2006. REUTERS/Lucas Jackson
Interview:

No stimulus exit in sight

The man who predicted the fallout from the property bubble says it's still too early to talk about exiting easy money policies. In fact, more stimulus is on the way.  Full Article 

ECONOMY
A long-range, improved Sejil 2 missile is test-fired in the desert at an unknown location in Iran in this Iranian military handout distributed by Fars news agency on December 16, 2009.

Iran tests upgraded missile

Hardline rulers send uncompromising signals to foes at home and abroad, testing a missile that could reach Israel and warning of legal action against opposition leaders.  Full Article | Video 

Iran