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Jul 31, 2012 8:28 AM by Summer Yu

US futures head higher

NEW YORK (AP) - U.S. stock futures are moving higher ahead of a two-day policy meeting for the Federal Reserve.

Markets have grown increasingly confident that the Fed will act again to kick-start the economy, but the timing is the hot debate.

Dow Jones industrial futures are up 132 points to 12,769 and the broader S&P futures have added 13.6 points at 1,348.50. Nasdaq futures are up 31 points at 2,574.50.

Corporate earnings over the past two weeks show clearly the headwinds that have created an anemic picture for the job market.

Aetna on Tuesday said its second-quarter net income tumbled almost 15 percent, as rising medical costs countered revenue gains.

Later Tuesday, two reports are expected to provide more insight on consumer spending and confidence.

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