Stock Futures Dip as 2010 Winds Down
NEW YORK (TheStreet) -- Stock futures pointed to a slightly weaker open on Friday, the final trading day of the year, as market-watchers anticipated that the strong December rally would keep the major U.S. indices on track to post double-digit gains for 2010.
Futures for the Dow Jones Industrial Average were down by 17 points, or 3 points below fair value, at 11,505. Futures for the S&P 500 were 2 points lower, or nearly a point below fair value, at 1253, and Nasdaq futures were off by 2 points, or nearly 2 points below fair value.
Stocks dipped Thursday despite a steep drop in initial jobless claims as investors sought to milk profits from better-than-expected economic news.Hong Kong's Hang Seng jumped 1.8% and Japan's Nikkei was closed. The FTSE in London, where exchanges will finish the year with a shortened session, was down 0.6% while the DAX in Frankfurt was closed. With no economic releases scheduled for Friday's session, a day before the new year, trading volumes are expected to be particularly light.
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