U.S. stock futures slump in post-election action
Consumer credit data on tap for later; Time Warner, Kraft report
MADRID (MarketWatch) — U.S. stock futures pointed to sharp losses for Wall Street on Wednesday, as investors pushed past an election victory for President Barack Obama to focus on urgent fiscal-cliff issues.
After swinging between gains and losses, futures for the Dow Jones Industrial Average (CBOT JZ2) dropped 90 points, or 0.7%, to 13,111.
S&P 500 futures (GLC:SPZ2) fell 8.7 points, or 0.6%, to 1,416.50, while Nasdaq 100 (CME:NDZ2) futures slid 16.75 points, or 0.6%, to 2,659.
“Investors are having second thoughts,” said Peter Cardillo, chief market economist at Rockwell Global Capital, who expects a volatile session Wednesday in the wake of Obama’s win. http://www.marketwatch.com/story/us-stock-fut...2012-11-06