US stock futures advance on Fed’s policy meeting

Investors are being careful today as they expect Feds Chairman Ben Bernanke to give more information about an eventual stimulus cutback. The main indexes around the world raised. US stock futures followed, indicating a possible jump in main US benchmarks today.

Futures on S&P 500 expiring September increased almost 1% in the morning, 11:00 am London time. Dow Jones Industrial futures also surged by similar amount. Bernanke is supposed to speak at a news conference Wednesday after the Feds policy meeting.

“Markets have now come to terms with all this tapering talk and we’re going to have a relief rally this week,” Alan Higgins, chief investment officer at Coutts & Co. in London, told Mark Barton on Bloomberg Television. “There has been a lot of communication from a lot of people involved in the Fed, but Bernanke is definitely in charge. He can’t back away completely from tapering, but he’s likely to be dovish.” he added cited by Bloomberg.

S&P 500 index has soared 2.5% since Bernankes last discussion on the issue and after he stated that only stable positivism in indicators would trigger a bond buying reduction.

In corporate news, Tesla surged share price by 2.2%. Several analysts considered Tesla model S as highly successful and raised forecast for share price reaching $118 level. Solar City – a company in which Teslas CEO is also involved, jumped by 6.64% on Friday as its stocks were upgraded to “outperform” by Credit Suisse.

“Lower operating and financing costs, and possible alternatives to net metering — such as feed-in tariff-like compensation for excess production — lead us to be more optimistic on [SolarCity] growth rates and retained value,” Credit Suisse strategist Satya Kumar wrote in a note for MarketWatch.

Boeing Co. added 0.8 percent in German trading as the 50th Paris Air Show began in France. Lockheed Martin Corp. (LMT) global aerospace and defense company, increased 1 percent in Germany as S&Ps Rating Services upgraded its outlook on the company.