Futures Hint At Soft Stocks
Signs of some early weakness for U.S. stocks coming from the futures market ahead of the penultimate session for 2009. U.S. dollar index shaded slightly higher, gold and oil both down a bit. So, GMAC is set to take another $3.5 billion in aid from Uncle Sam (in addition to the $12 billion it’s already been handed) to cover more losses in its mortgage ops, according to WSJ. This on the heels of last week’s stealthy announcement of uncapped aid to Fannie and Freddie. But have no fear, citizens, because we’re “making money” on TARP. Right. Mixed action in Asia overnight, European markets a little lower. Chicago PMI for December due at 9:45 a.m. ET. S&P futures down 5.70; 10-year a little higher, yield at 3.79%.
Find the original story at WSJ MarketBeat:
Futures Hint At Soft Stocks
