Stock futures rise despite S&P’s warning to Europe

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NEW YORK (AP) — Wall Street appears headed for a slightly higher opening, shrugging off a Standard & Poor’s warning about European credit ratings that sent most world markets lower.

Dow Jones industrial futures were up 0.4 percent at 12,112 and S&P 500 futures rose 0.3 percent to 1,259.

Overseas stocks sank after Standard and Poor’s warned 15 countries using the euro that it could downgrade their credit ratings within the next 90 days. Skepticism over a new plan to prevent a breakup of the common currency also dragged markets lower.

The S&P warning left out only two of 17 countries that use the euro: Cyprus, whose bonds have near-junk status, and Greece, whose low ratings already suggest it is likely to default soon anyway.