Stock futures slump after GOP abandons ‘Plan Bâ€
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Posted On: 12/21/2012 7:46:45 AM
Stock futures slump after GOP abandons ‘Plan B’
Consumer spending, final UMich index coming up later
LONDON (MarketWatch) — U.S. stock-market futures fell sharply on Friday after House Republican leaders abruptly canceled their so-called Plan B vote, further eroding hopes of a fiscal-cliff deal before year-end.
Futures for the Dow Jones Industrial Average (CBE
JH3) tumbled 158 points, or 1.2%, to 13,109, while those for the Standard & Poor’s 500 index (GLC:SPH3) erased 17.7 points, or 1.2%, to 1,422.90.
Futures for the Nasdaq-100 index (CME:NDH3) slid 33 points, or 1.2%, to 2,657.
After a closed-door meeting on Thursday evening, Republicans said they did not have the votes needed to pass the bill, which would have, among other measures, raised taxes on households earning more than $1 million while extending Bush-era tax cuts for those earning less. http://www.marketwatch.com/story/stock-future...atest_news
Consumer spending, final UMich index coming up later
LONDON (MarketWatch) — U.S. stock-market futures fell sharply on Friday after House Republican leaders abruptly canceled their so-called Plan B vote, further eroding hopes of a fiscal-cliff deal before year-end.
Futures for the Dow Jones Industrial Average (CBE
JH3) tumbled 158 points, or 1.2%, to 13,109, while those for the Standard & Poor’s 500 index (GLC:SPH3) erased 17.7 points, or 1.2%, to 1,422.90. Futures for the Nasdaq-100 index (CME:NDH3) slid 33 points, or 1.2%, to 2,657.
After a closed-door meeting on Thursday evening, Republicans said they did not have the votes needed to pass the bill, which would have, among other measures, raised taxes on households earning more than $1 million while extending Bush-era tax cuts for those earning less. http://www.marketwatch.com/story/stock-future...atest_news
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