Stock futures rise despite gridlock on debt

NEW YORK (AP) ? U.S. stock futures are rising modestly despite a continuing standoff on how to resolve the nation’s debt problems.

Republican and Democratic lawmakers have offered competing proposals to avoid a catastrophic default on the U.S. government’s debt. But a resolution still appears a long way off.

If an agreement is not reached by Aug. 2, the U.S. won’t have enough cash to pay all its bills. That could cause stocks to plunge.

In corporate news, Ford, UPS and JetBlue are releasing their quarterly earnings results.

Ahead of the opening bell Tuesday, Dow Jones industrial average futures are up 9 points, or 0.1 percent, at 12,559. Standard & Poor’s 500 futures are up 2, or 0.2 percent, at 1,336. Nasdaq 100 futures are up 3, or 0.1 percent, at 2,426.