Stock futures rise as calm returns to markets

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NEW YORK (AP) — Wall Street is poised for modest gains at the open. Futures are rising after the previous day’s big declines when investors fretted over the deal to fix the euro crisis.

Dow futures are up 0.5 percent at 12,005, while the broader Standard & Poor’s 500 futures are up 0.6 percent at 1,237.

Optimism over last Friday’s agreement by the 17 euro countries and nine others to adopt a new fiscal pact to prevent a repeat of the debt crisis evaporated Monday. Credit rating agencies Moody’s and Fitch both said it was insufficient and would not materially address the crushing debt loads of some nations.

The calmer tone is evident in the performance of the euro, which was trading 0.2 percent higher at $1.3195 after falling to a 10-week low Monday.