Posted: Aug 22, 2011 6:19 AM by Kate Richards
Updated: Aug 22, 2011 6:21 AM
Stock futures are pointing higher to open this week after fears that the economy could be headed into a second recession, pummeled the major indexes for four weeks in a row.
No major economic reports are due out Monday. Crude oil jumped 1.6 percent to $83.58 a barrel in early trading as Libyan rebels appeared closer to toppling Moammar Gadhafi's regime. Rebel forces pushed into the capital Tripoli on Sunday. Some analysts believe oil prices could drop as Libyan resumes exporting oil.
The stocks start this Monday with the Dow Jones industrial average futures up 118 points, or 1.1 percent, to 10,938. S&P 500 index futures up 14 points, or 1.3 percent, to 1,138. Nasdaq 100 futures up 32 points, or 1.6 percent, at 2,073.