Futures Market News
Stock futures slide with economic data disappointing
Sep 16, 2010 02:51 PM
Stock index futures took hits around the world on Thursday, with European, Latin American, U.S. and Chinese equities all showing red ink. Only Japan’s Nikkei 225 futures managed to post a gain, of 30 points to 9,460.
Two indicators in the U.S. pointed in different directions for the economy - initial jobless claims fell slightly by 3,000 to 450,000 last week, though economists had predicted an increase in claims to 459,000.
However, the Federal Reserve Bank of Philadelphia said that its general economic index remained negative, though it rose from negative 7.7 in August to negative 0.7 in September.
"The labor market is moving in the right direction but we still have a long ways to go," Ryan Sweet, a senior economist at Moody’s Analytics, told Bloomberg News. "Manufacturing is showing signs of fatigue."
Dow Jones Industrial Average index futures lost 14 points to 10,495 at 12:43 p.m. EST, while S&P 500 futures dropped 4.9 points to 1,115.8. Nasdaq 100 futures lost 4.5 points to 1,935 at 12:42 p.m. EST.
In London, FTSE 100 index futures slid 3 points to 5,554, while German DAX index futures dropped 13 points to 6,255.
Don’t Miss Our News Updates!
Follow our breaking news stories and get a unique take on current events that may impact the commodity futures markets. Multiple new articles are posted each weekday. Subscribe to our commodity news updates by email, and receive real-time updates with our RSS feed, follow us on Twitter @DanielsTrading, become a fan on Facebook to stay informed.
SPECIAL OFFER: Free eBook — Gold Exposed: Spot Gold versus Gold Futures
Are you interested in trading gold futures but unsure of how to start?
Register for our FREE guide, and learn the ins and outs of the gold markets that will help answer many of your trading questions.
Register for Your Free 2-Week Trial of the dt Insider Market Advisory!
With your free trial membership, you'll receive full access to our exclusive trade recommendation service and all of the timely and accurate trade information you need to feel comfortable participating in the markets.