Off-Hours Trading: Stocks Look Weaker as Futures Below Fair Value

Stocks were expected to open weaker this morning as futures were pointing slightly lower.

The S&P 500 March contract was recently quoted up 4 points to 1353. With fair value measured at 6.67, the market looks to open with a weaker tone. The thinly traded Nasdaq 100 was recently up 3 to 3970.5.

Stocks recovered some yesterday after last Friday's absolute pasting. The Dow Jones Industrial Average improved in a roller-coaster session, but the Nasdaq Composite lagged behind.

Some degree of attention will be paid today when Fed Chairman Alan Greenspan makes the second of his semi-annual Humphrey-Hawkins appearances before Congress -- this time before the Senate Banking Committee. ...