Stocks head for sharply higher open

November 30, 2011 - 8:35 AM
Wall Street

FILE - In this file photo taken Nov. 10, 2011 photo, specialists William Bott, left, Christian Sanfilippo, third from left, and floor official Chris Casaliggi second left, work on the floor of the New York Stock Exchange. Central banks around the world said Wednesday, Nov. 30, 2011, they are taking coordinated action to ease strains on the financial system. (AP Photo/Richard Drew, File)

NEW YORK (AP) — U.S. stock futures are sharply higher following a coordinated move by several of the world's largest central banks to ease strains on the world financial system.

Also spurring the gains was a separate move by China's central bank to support economic growth.

The European Central Bank, U.S. Federal Reserve, the Bank of England and the central banks of Canada, Japan and Switzerland are taking joint action to make it cheaper for banks to get U.S. dollars if they need them.

Futures for the major indexes rose more than 2 percent. Less than two hours before U.S. markets open, Dow futures are up 256 to 11,821. Futures for the broader S&P 500 are up 30 points to 1,227.