This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

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.

Shares of mobile broadband company Clearwire (CLWR) were up 0.4% to $5.24 ahead of Friday's opening bell following news that Chairman Craig McCaw resigned . According to a regulatory filing, McCaw's decision wasn't related to any disagreements with the company.

Jackson Hewitt Tax Service (JTX) plans to operate in more than 2,000 Wal-Mart (WMT - Get Report) stores in the coming tax season, expanding its presence by 10% from last year's level.

In commodity markets, the February crude oil contract traded 32 cents lower at $89.52 a barrel. The February gold contract was ahead by $7.10 to trade at $1,413 an ounce.

The dollar weakened against a basket of currencies with the dollar index down by 0.6%. The benchmark 10-year Treasury note strengthened 3/32, lifting the yield to 3.369%.


--Written by Melinda Peer in New York.
Disclosure: TheStreet's editorial policy prohibits staff editors and reporters from holding positions in any individual stocks.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
CLWR $0.00 0.00%
WMT $65.17 -2.60%
AAPL $94.72 -0.31%
FB $100.43 0.68%
GOOG $687.27 0.66%


Chart of I:DJI
DOW 15,970.82 -56.23 -0.35%
S&P 500 1,849.66 -3.78 -0.20%
NASDAQ 4,278.4780 -5.2750 -0.12%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs