US stock futures edge higher in quiet session

Staff Writer
Columbus CEO

NEW YORK (AP) — Stock futures were moving slightly higher Friday, as investors remain positive about the U.S. economic recovery going into the end of the year.

Trading volume is expected to be low, however, as most of Wall Street has closed out their positions until the start of 2014.

KEEPING SCORE: The Dow Jones industrial average futures were up 14 points to 16,436 with 30 minutes left before the opening bell. The Standard & Poor's 500 index rose a point to 1,837 and the Nasdaq futures were up a point to 3,583.

TREASURIES CLIMB: The yield on the U.S. 10-year Treasury note breached the psychologically important 3 percent mark, rising to 3.01% overnight from 2.99 percent Thursday. Bond yields have steadily climbed since Dec. 18, when the Federal Reserve announced it was paring back its bond-buying economic stimulus program.

GM RECALLS: Shares of General Motors edged lower in premarket trading after the company said it would have to recall 1.5 million cars to replace a bracket that secures a fuel pump. The recall affects only GM's products sold in China, including the Buick Excelles and the Chevrolet Sails.

ANOTHER SLOW DAY EXPECTED: There are only three trading days left in 2013, and most of Wall Street remains on vacation for the Christmas and New Year holiday. Volume for the last two trading sessions has been low and trading is expected to be slow Friday as well. There is no major economic data and no corporate earnings scheduled for investors to digest.