Futures Pointing Lower
28-Dec-12 09:18 ET
Market is Closed
[BRIEFING.COM] S&P futures vs fair value: -11.10. Nasdaq futures vs fair value: -20.30. Heading into the open, equity futures continue to trade firmly in the red, and the S&P 500 futures are down 0.6%. The bearish sentiment is setting in as investors doubt the ability of Washington lawmakers to reach a timely budget agreement. As a reminder, lawmakers from both sides will join President Obama at the White House in hopes of furthering the dialogue.
As mentioned earlier, major financials are seeing pre-market weakness. Bank of America (BAC 11.32, -0.15) and Morgan Stanley (MS 18.55, -0.22) are both down near 1.3%.
December Chicago PMI will be reported at 9:45 ET and November pending home sales will be released at 10:00 ET.