Major U.S. stock indices looked poised to climb after yesterday's sell-off. Futures on the Dow Jones Industrial Average were higher by about 70 points. S&P 500 and Nasdaq futures were also moving higher. Through Monday, the Dow industrials have fallen by 14.3 percent in the first three months of the year, bringing the benchmark's losing skid to six quarters -- its longest string of quarterly declines since the six quarters ending June 30, 1970. The S&P 500 has declined 12.8 percent this quarter. The Nasdaq Composite Index is down 4.8 percent for the quarter. Stocks have fared better in March than they did in the first two months of the year. The Dow is up 6.5 percent for the month, while the S&P 500 has gained 7.1 percent and the Nasdaq has climbed 9 percent. Markets have rallied since touching their bear-market lows on March 9, but many investors are skeptical of the gains' staying power, and indeed stocks have fallen off since peaking last week. On Monday, stocks slumped after the Obama administration raised the specter of bankruptcy for General Motors and Chrysler and analysts at Morgan Stanley advised clients to sell the market's rally. Oil prices were higher, climbing to around $49.50 a barrel after slumping more than 7 percent Monday amid the sell-off in stocks. Treasuries were weaker. The dollar climbed against the yen after Japan outlined a new economic stimulus package. The U.S. currency lost ground against the euro.
