mrcash
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U.S. Stock-Index Futures Drop - 2008/11/05 19:17
Hey, guys. Incredible as it may seem, U.S. stock-index futures declined, following the biggest presidential Election Day rally in 24 years, as concern the economy will deteriorate overshadowed Democrat Barack Obama's victory.
Futures suggested the Standard & Poor's 500 Index will drop after an 18 percent rebound from a five-year low on Oct. 27. The benchmark for U.S. equities has still lost 32 percent this year, the steepest annual retreat since 1937, and Obama will have to contend with an economy pummeled by the fastest contraction in manufacturing in 26 years and the lowest consumer confidence.
S&P 500 futures expiring in December dropped 0.8 percent to 995.7 as of 11:57 a.m. in London. Dow Jones Industrial Average futures retreated 0.5 percent to 9,535 and Nasdaq-100 Index futures decreased 0.6 percent to 1,372.5.
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