Before the bell: Futures point to a sharply lower start - Melly Alazraki

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Before the bell: Futures point to a sharply lower start
Nov 03, 2009 12:45 PM UTC

Melly Alazraki

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Filed under: Before the bell, International markets, Market matters, Economic data, Lloyds TSB Group plc ADS (LYG), Federal Reserve, Financial Crisis

If on Monday investors were ready to bounce back from Friday's selloff, today stock futures are sharply lower, indicating U.S. stock markets are poised to slump at the open ahead of the Federal Reserve two-day policy meeting that begins today. Another rate hike from Australia, poor results from UBS and weak European markets weigh on sentiment.

Monday was a volatile session. Stocks rallied in the morning following a surprise profit from Ford (NYSE: S) and an upbeat home sales reading, but mostly due to October's manufacturing index that jumped to its highest level in three and a-half years. That didn't hold up, though and the Dow skidded to negative territory only to bounce back later in the afternoon as buyers came back in.

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Before the bell: Futures point to a sharply lower start originally appeared on BloggingStocks on Tue, 03 Nov 2009 07:45:00 EST. Please see our terms for use of feeds.

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