FXstreet.com

US STOCKS-Futures drop after Fed auction statement

Tue, Oct 7 2008, 12:57 GMT
http://www.afxnews.com

NEW YORK NEW YORK, Oct 7 (Reuters) - U.S. stock index futures fell on Tuesday after the U.S. Federal Reserve announced its fourth-quarter term auction schedule, unnerving investors who anxiously await signs of some coordinated response by global central banks to unfreeze the credit markets.

Initially futures had risen on speculation that global central banks might mount a coordinated response to calm jittery markets and thaw the credit freeze.

S&P 500 futures fell 2.9 points and were below fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures dropped 26 points and Nasdaq 100 futures slipped 1.80 points.

(Reporting by Ellis Mnyandu)

((Ellis.Mnyandu@thomsonreuters.com; +1 646 223 6085; Reuters Messaging:ellis.mnyandu.reuters.com@reuters.net)) Keywords: MARKETS STOCKS

Chuck Mikolajczak

cm

COPYRIGHT

Copyright Thomson Financial News Limited 2007. All rights reserved.

The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.

Thomson Financial News

The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited For more information and to contact AFX: www.afxnews.com and www.afxpress.com

Related News

Wall Street ends Friday in negative; Dollar with gains
FXstreet.com | Fri, Nov 20 2009, 22:14 GMT

US Regional and State Unemployment Rates for Oct-STATS
Dow Jones | Fri, Nov 20 2009, 15:29 GMT

US Regional and State Unemployment Rates for Oct-STATS
Dow Jones | Fri, Nov 20 2009, 15:21 GMT

UPDATE:Asian Shares End Mostly Lower; Tech Follows US Downturn
Dow Jones | Fri, Nov 20 2009, 11:20 GMT

ECB Tumpel-Gugerell: Major Banks Can Set New Tone For Sector
Dow Jones | Fri, Nov 20 2009, 10:43 GMT

fed, crisis, centralbanks, us, bailout, cp, banks, stocks

View All

Related Content

Weekly Market Commentary - The trend to lower interest rates continues by Mizuho Corporate Bank
Fri, Nov 20 2009, 15:48 GMT

Interest Rate Monitor - Trichet tempers European rate rally by Interactive Brokers LLC
Fri, Nov 20 2009, 15:10 GMT

Top Fundamental Stories - European Central Bank Jean-Claude Trichet Gradually Exits Stimulus by ecPulse.com
Fri, Nov 20 2009, 14:13 GMT

London Gold Market Report by BullionVault.com
Fri, Nov 20 2009, 13:59 GMT

FX View - Trichet comments spur risk aversion rally by Interactive Brokers LLC
Fri, Nov 20 2009, 13:24 GMT

fed, crisis, centralbanks, us, bailout, cp, banks, stocks

View All

Interested in forex trading? forex brokerage firms!


ACM Advanced Currency Markets SA
Contact the broker/FDM
Open a demo account
FX Solutions LLC
Contact the broker/FDM
Open a demo account
GFT
Contact the broker/FDM
Open a demo account
MF Global FXA Securities Ltd.
Contact the broker/FDM
Open a demo account
Saxo Bank A/S
Contact the broker/FDM
Open a demo account

GET CASH BACK FOR YOUR TRADES!   Learn more about the Pip Rebate Program

Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer.

Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.

Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. FXstreet.com has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.

Any opinions, news, research, analyses, prices or other information contained on this website, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

©2009 "FXstreet.com. The Forex Market" All Rights Reserved.