Wed, Jul 3, 2013 10:13 AM EDT 0:56
Nasdaq argued in federal court that it cannot be sued by class-action because of its legal status as a self-regulatory organization. Nasdaq is being sued over the botched Facebook IPO. By Ryan Vlastelica NEW YORK (Reuters) - Stock index futures rose modestly on Tuesday, indicating positive market momentum would continue as investors remain more comfortable with the economic outlook. Equities surged in the first half of the year, hitting a series of record highs before pulling back dramatically in June on concerns over when the U.S. Federal Reserve would begin reining in its stimulus program. The policy is widely credited with fueling 2013's gains. ... Wall Street opened higher as investors awaited clarification on the Federal Reserve's stimulus plans and the release of data providing snapshots on the economy.