Stocks set to give up some of previous session’s gains; investors await spending, income data
By Stephen Bernard, APFriday, October 30, 2009
Stock futures point to modestly lower opening
NEW YORK — Stocks are set to continue their slide as the dollar is strengthening, and after a week of mixed economic reports. Futures are modestly lower.
Overseas, Asian markets declined, but European markets rose modestly.
With little economic news to help sway the market Friday, the dollar is again pressuring stocks. A strengthening dollar drives down foreign demand for commodities and can depress U.S. exports.
A disappointing earnings report from computer maker Dell Inc. is also weighing on the market.
Dow Jones industrial average futures are down 36, or 0.4 percent, at 10,291. Standard & Poor’s 500 index futures are down 4.20, or 0.4 percent, at 1,090.10, while Nasdaq 100 index futures are down 4.75, or 0.3 percent, at 1,765.50.
Tags: Consumer Spending, Government Programs, New York, North America, Prices, Stock Indices And Averages, United States