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Last updated: October 09. 2013 8:37AM - 121 Views
Associated Press



FILE - In this Monday, June 3, 2013, file photo, Janet Yellen, vice chair of the Board of Governors of the Federal Reserve System, answers a question from a participant at the International Monetary Conference in Shanghai, China. More than 350 economists have a signed a letter to President Barack Obama calling on him to nominate Federal Reserve Vice Chair Janet Yellen to be the central bank's next chairman. (AP Photo/Eugene Hoshiko, File )
FILE - In this Monday, June 3, 2013, file photo, Janet Yellen, vice chair of the Board of Governors of the Federal Reserve System, answers a question from a participant at the International Monetary Conference in Shanghai, China. More than 350 economists have a signed a letter to President Barack Obama calling on him to nominate Federal Reserve Vice Chair Janet Yellen to be the central bank's next chairman. (AP Photo/Eugene Hoshiko, File )
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(AP) Stock futures are higher with President Barack Obama set to nominate Janet Yellen to head the Federal Reserve.


Dow Jones industrial futures are up 35 points to 14,749. S&P futures have gained 4.9 points to 1,655.30. Nasdaq futures are up 8.75 points to 3,159.50.


Yellen has been a key ally of Fed Chairman Ben Bernanke and has piloted the bank's massive bond-buying program.


U.S. corporations are posting mixed results to begin the earning season.


Alcoa easily beat expectations, while Costco and Yum Brands fell short.


Also on Wednesday, Jos. A. Bank Clothiers said that it's bidding $2.3 billion for Men's Wearhouse.


The Federal Reserve releases the minutes of its September policy meeting after surprising economists last month by not reducing its $85 billion in monthly bond purchases.


Associated Press
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