Stock Futures Dip Amid Debt Concerns
NEW YORK ( TheStreet) -- Stock futures were pointing to a lower open Monday as European contagion fears and concerns that the U.S. won't be able to raise its debt ceiling before its credit rating is lowered weighed on global investors.
Futures for the Dow Jones Industrial Average were down by 84 points, or 51 points below fair value, at 12,368. Futures for the S&P 500 were lower by 10 points, or 7 points below fair value, at 1305, and Nasdaq futures were off by 20 points, or 17 points below fair value.
A weak reading on consumer sentiment and unresolved debt issues in the U.S. put a lid on stock gains even as strong earnings from Google (GOOG) kept the Nasdaq firmly in positive territory.
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