Before the bell: S&P futures -25.50, Nasdaq futures -46.75.
10.08.2011 13:28:00
U.S. stock futures fell as investors speculated the rebound was unjustified amid concerns that the economy is slowing.
Pressure against stock futures has intensified, such that the cash market is now expected to open with a loss in excess of 2%. The weakness comes as many traders look to pare their positions amid continued volatility. The prior session's rally, which was the sharpest in more than two years, has provided additional incentive to do so. Of course, with so many participants feeling jittery, the premarket pullback has only perpetuated further selling.
That has helped safety plays like gold climb back above $1770 per ounce for a 1.7% gain. Meanwhile, the dollar has bounced to a 0.7% gain after it was up only incrementally earlier this morning.
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