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http://biz.yahoo.com/ap/080107/wall_street.htmlNEW YORK (AP) -- Wall Street headed for a rebound Monday amid speculation that the Federal Reserve will cut interest rates to ward off a recession.
There is little in the way of corporate or economic news expected during the session. Instead, investors are looking toward Thursday's speech from Fed Chairman Ben Bernanke for clues about the central bank's intentions.
Further moves by the Fed at its Jan. 29-30 meeting can't come soon enough for some traders. Wall Street dropped sharply on Friday after a government report showed a jump in the unemployment rate and sluggish payroll growth.
In just the first three trading days of 2008, the Dow Jones industrial average lost 3.50 percent, the Standard & Poor's 500 index fell 3.86 percent, and the Nasdaq composite index dropped 5.57 percent.
On Monday, Dow futures rose 37 points, or 0.24 percent, to 12,924.00. Broader indexes also indicated a higher open, with S&P 500 futures up 5.00, or 0.35 percent, at 1,427.90; and Nasdaq futures up 2.00, or 0.10 percent, at 1,987.00.
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