US Stock Futures Continued To Be Weak
US stock futures continued to fall today as investors continued to be worried about the health of the Eurozone. While futures on the S&P 500 lost 3.5 points to 1,169.20, those on the Nasdaq 100 fell 6.5 points to 1,963.00. Meanwhile, Dow Jones Industrial Average futures moved down 27 points.
On the economic front, investors today are awaiting the April ADP employment report and the non-manufacturing index from the Institute for Supply Management (ISM) at 10:00 am EDT.
Companies that may be in the spotlight today are American International Group (NYSE: AIG), Time Warner (NYSE: TWX), News Corp (NYSE: NWS) and InterMune (NASDAQ: ITMN). While AIG fell 1.5% after Britain's Prudential (NYSE: PUK) delayed the sale of shares worth $20 billion with the aim of seeking regulatory clearance for the AIA deal, TWX gained 2.9% after announcing better-than-expected earnings for the first quarter.
According to strategists at Credit Suisse, the euro, which had fallen to one-year lows yesterday, may decline further to $1.20-$1.25. Today, the euro was trading below $1.30. Meanwhile, Spain's IBEX 35 dropped 1.5%.
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