Stock futures tick up, fiscal cliff angst lingers

Published December 04, 2012

| Reuters

Stock futures edged up in low volume on Tuesday as the market continues to be hostage to negotiations in Washington on how to avert a "fiscal cliff" that could push the U.S. economy into recession.

* Coach became the latest company to advance the date of its next dividend payment. Expectations of higher taxes on dividends kicking in next year have pushed many companies to pay special dividends this year or advance their next pay back to investors.

* Cerberus Capital Management is in talks to join Virtu Financial's bid for U.S. brokerage Knight Capital Group , the Wall Street Journal reported, citing people familiar with the discussions. Knight became a takeover target after a trading glitch left it nearly bankrupt earlier his year.

* Shares of Pep Boys-Manny Moe and Jack were down 7.4 percent in light premarket trading a day after the release of the auto parts retailer's results.

* U.S. stocks struggled on Monday to extend the previous week's gains, dropping as disappointing numbers on U.S. factory activity dampened optimism about China's economic growth. The Dow Jones industrial average fell 0.46 percent to 12,965.60 at the close. The S&P 500 declined 0.47 percent to 1,409.46 and the Nasdaq Composite dropped 0.27 percent, to 3,002.20.

(Reporting by Rodrigo Campos; Editing by Chizu Nomiyama)

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