US market futures rise on Cyprus bailout deal

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Associated Press

Posted on March 25, 2013 at 7:35 AM

Updated Monday, Mar 25 at 9:02 AM

NEW YORK (AP) — U.S. stock market futures are rising following a deal in Europe for a 10 billion euro ($13 billion) bailout for Cyprus that will shrink its banking sector, but keep the nation using the euro.

Dow Jones industrial average futures are up 39 to 14,498. Nasdaq 100 futures added 14.2 to 2,807.8. S&P 500 futures are up 6.50 to 1,558.50.

Dell Inc. is up 3 percent after the PC maker received takeover bids from private equity firm Blackstone Group and activist investor Carl Icahn. Both rival the $24 billion-plus bid from a group that includes founder Michael Dell.

The Cyprus deal is providing a lift for European markets. Germany's DAX and France's CAC-40 are both up over 1 percent. Most Asian markets earlier rallied on the plan, but Chinese stocks fell.

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