Stock futures slip after debt-deal rally
LONDON (MarketWatch) — After a solid rally earlier in the week, U.S. stock futures pointed to a slightly lower open on Wall Street on Thursday, as investors digested Congress’s temporary deal to reopen government and raise the debt ceiling until early 2014.
Also on tap Thursday are earnings reports from Google Inc. (NASDAQ:GOOG) , plus Dow industrials components Goldman Sachs Group Inc. (NYSE:GS) and Verizon Communications Inc. (NYSE:VZ) .
Futures for the Dow Jones Industrial Average (CBE
JZ3) fell 34 points, or 0.2%, to 15,215, while those for the S&P 500 index (GLC:SPZ3) lost 1.70 points, or 0.1%, to 1,711.50. Futures for the Nasdaq 100 index (CME:NDZ3) inched up 0.25 points to 3,264.25.
The soft losses came on the back of a strong rally on Wednesday, when the Nasdaq ended at a 13-year high and the S&P closed near its record, after U.S. lawmakers agreed on a deal to end the 16-day political impasse and fund the government until Jan. 15, while raising the borrowing limit until Feb. 7.
“So the expectation of a resolution in Washington was sufficient to cheer U.S. equities through yesterday’s session, but seemingly as the reality of this only being a temporary solution sinks in, we’re once again back with a weakening U.S. dollar and stock markets under pressure,” analysts at Monex Capital Markets said in a note.
“’Financial Armageddon’ may have been averted, but just how many more times global markets can be taken to the brink by U.S. lawmakers remains to be seen,” they added. http://www.marketwatch.com/story/stock-future...2013-10-17
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