US STOCKS-Wall St seen opening higher on positive ADP data
* ADP shows employers unexpectedly added jobs in July
* Fed announces new liquidity-boosting measures
* Oil slides for second day, U.S. inventory data on tap
* Investors mull whether financial stocks at turning point (Updates throughout)
NEW YORK, July 30 (Reuters) - Wall Street was poised to rise at the open on Wednesday after a report showed private employers unexpectedly added jobs in July and the Federal Reserve announced it would extend a measure to boost liquidity in turbulent financial markets.
Another slide in the price of oil, following Tuesday's drop of $2.54 for the barrel of U.S. crude, further reduced fears about inflation and the impact of high energy prices on consumer spending.
The Fed said it was extending a credit facility that it provides for primary dealers in another step to help financial sector companies struggling with credit losses.
In addition, U.S. securities regulators have extended through Aug. 12 an emergency rule aimed at curbing abusive short selling in the stocks of Fannie Mae (FNM.N: Quote, Profile, Research) and Freddie Mac (FRE.N: Quote, Profile, Research), as well as 17 other major financial firms. Continued...
© Thomson Reuters 2010. All rights reserved. | Learn more about Thomson Reuters
