Stock Futures Point to Weak Wall Street Open

Updated from 7:00 a.m. EDT

Premarket futures were forecasting a lower open for stocks on Wall Street Friday, as the credit crisis wore on and financial stocks, hammered all week, looked ready to take another drubbing.

Futures for the S&P 500 were down 20 points at 893 and were 21 points shy of fair value. Nasdaq futures were down 16 points at 1257 and were 29 points below fair value.

After a day of whipsaw trading, stocks sold off hard into the close Thursday. Skepticism about government intervention in the financial markets and heavy selling of financial and insurance stocks contributed to declines in the major indices. The Dow Jones Industrial Average dropped 7.3%, the S&P 500 gave back 7.6%, and the Nasdaq tumbled 5.5%. ...