NEW YORK (TheStreet) -- Stock futures were trading mixed Friday as the relief brought on by comforting eurozone remarks from Italy's prime minister started fading.
The impending U.S. "fiscal cliff" was also weighing on investors' minds.
Futures for the
Dow Jones Industrial Average
were down 19 points, or 3.2 points above fair value, at 12,517. Futures for the
were down 1.1 points, or 2.5 points above fair value, at 1322.
Futures for the
were up 1.7 points, or 7.8 points above fair value, at 2538.
Stocks pared losses in late trading to finish mixed Thursday as uncertainty about the eurozone persisted.
The euro bounced off a 22-month low against the dollar after Italian Prime Minister Mario Monti said Greece will likely remain in the eurozone and that most European Union leaders at their meeting in Brussels this week supported jointly-issued eurobonds. But it soon trimmed gains, with big investors remaining restless over the uncertainty in Greece. The
reported that some of Europe's largest fund managers were dumping their euro assets.
Focus also sharpened on Spain's banking sector, with shares of part-nationalized financial institution
halted ahead of a board meeting to discuss the final amount of aid it will require from the Spanish government.
London's FTSE was down 0.3% and the DAX in Germany was up 0.1% -- losing steam.
Commodities were cutting about a third of their gains with the July crude oil contract up 28 cents at $90.94 a barrel and June gold futures rising $3.80 to $1,561.30 an ounce.
The Thomson Reuters/University of Michigan final index of consumer sentiment is due for release at 9:55 a.m. EDT. Economists in a
poll predict reading of 77.8, a repeat of the preliminary May reading.
"Next week's avalanche of data will offer an important test," for the
to see whether economic data can soften "just enough" in the coming weeks to provide the necessary cover for more monetary easing, said Societe Generale researchers. Approaching the mid-point of the year, the "fiscal cliff" is becoming a growing source of concern for the Fed, they said.
The Hang Seng index in Hong Kong settled up 0.3% and Japan's Nikkei closed up 0.2%.
The benchmark 10-year Treasury was up 5/32, lowering the yield to 1.759% and the greenback was down 0.1%, according to the
2012 Stock Predictions and Outlook
-- Written by Andrea Tse in New York.
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