Stock futures rise as Greece nears debt solution

By FRANCESCA LEVY | June 29, 2011 | 8:14 AM EDT

NEW YORK (AP) — Stock futures are rising for a third straight day as Greece gets closer to a bailout and Bank of America announced a huge settlement with investors.

Dow Jones industrial average futures are up 63, or 0.5 percent, at 12,204. Standard & Poor's 500 futures are up 8, or 0.7 percent, at 1,302. Nasdaq 100 futures are up 14, or 0.6 percent, at 2,297.

Greece appears likely to pass new austerity measures Wednesday. Lawmakers must implement harsh spending cuts in order to get a bailout and avert a government default that could potentially be catastrophic for global markets.

Bank of America is up 6 percent in premarket trading thanks to an $8.5 billion settlement over claims that it sold investors weak mortgage-backed securities that became worthless when the housing market collapsed.