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To: ContemptofCourt

Nuttin but some profit taking.


14 posted on 05/11/2006 9:19:25 AM PDT by pissant
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To: pissant
Profit taking? Not quite:

U.S. stock futures on Friday pointed to further losses after the last session's tailspin.

Dow Jones futures were recently down 29 points, S&P 500 futures fell 4.4 points, and Nasdaq 100 futures slipped 9 points.

The stock futures fall coincided with a drop in European stock markets, whose losses accelerated in mid-morning. The losses appear to have been triggered via a large program trade, noted Tom Hougaard, chief market strategist at City Index in London.

Asian stock markets also ended the session with losses, save for a rally in Shanghai as the yuan rose.

U.S. stocks on Thursday logged their biggest one-day decline since January, on concerns that rising commodity prices will translate into higher inflation and will prompt the Federal Reserve into raising interest rates again in June.

The euro rose above $1.29 for the first time in a year on Friday, on expectations the trade gap would widen further.

26 posted on 05/12/2006 6:10:49 AM PDT by ContemptofCourt
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