U.S. stock futures point to a modestly higher open today, following the previous day’s session in which the major averages finished with very little change.
A major uncertainty for investors will be removed today when President Obama officially nominates Ben Bernanke for a second term as Federal Reserve Chairman. The President is expected to make the announcement at 9:00 am ET.
There are only a handful of events on the calendar today, and trading volume is like to be light once again. The S&P/Case-Shiller index of property values will be released at 9:00 am ET and the Conference Board releases its August consumer confidence index at 10:00 am ET.
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