Stock futures rise on Wall Street

Associated Press

NEW YORK (AP) — U.S. stock futures are rising Tuesday after the Standard & Poor's 500 index fell for the first three trading days of the New Year.

KEEPING SCORE: S&P 500 futures edged up seven points to 1,827. Dow Jones industrial average futures climbed 71 points to 16,436. Nasdaq 100 futures rose 16.75 points to 3,534.

SHRINKING DEFICIT: The U.S. trade deficit fell in November to its lowest level in four years, an encouraging sign for the economy. Gains in energy production and stronger sales of American-made airplanes, autos and machinery lifted exports to an all-time high, the Commerce Department said Tuesday.

OVER THERE: World markets recovered some ground despite concerns about the Chinese economy. In Europe, Britain's FTSE 100 rose 0.3 percent to 6,753, while Germany's DAX gained 0.6 percent to 9,481. China's Shanghai Composite Index gained 0.1 percent to 2,047.32 after the government said it would allow the creation of five private banks to support economic growth and competition. Japan's Nikkei fell 0.6 percent to 15,814.

TREASURYS: The yield on the 10-year Treasury note fell to 2.95 percent from 2.96 percent on Monday.

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