Stock index futures point to lower open on Wall Street
Tuesday, 19 May 2009
Stock index futures pointed to a lower open on Wall Street Monday, extending the previous week's losses as investors worry about the outlook for corporate profits, reports Reuters.
At 4:39 a.m. EDT, futures for the S&P 500 were down 0.28 per cent, Dow Jones futures were down 0.17 per cent and Nasdaq 100 futures were down 0.22 per cent.
Japan's Nikkei stock average dropped 2.4 per cent on Monday to hit its lowest close since May 1, with Panasonic (6752.T) tumbling 7.6 per cent after it forecast a bigger-than-expected annual loss following a record quarter of red ink, battered by weak demand, price falls and restructuring costs.
European stocks were down around 0.8 per cent in early trade in a broad retreat led by miners such as Rio Tinto (RIO.L) and BHP Billiton (BLT.L).
Japanese manufacturing sentiment edged up from record lows this month, keeping alive hopes that a disastrous first quarter marked a low point in Japan's and the world economy's worst recession since World War Two.
Monday's monthly Reuters survey of Japan's top companies follows last week's better-than-expected machinery orders data for April and a US consumer survey showing confidence at its highest since last September's collapse of Lehman Brothers.
AIG is to speed up plans to list its Asian subsidiary through an IPO that could raise more than $4 billion, as the bailed-out US insurer seeks to raise cash to pay back government loans.
At 4:39 a.m. EDT, futures for the S&P 500 were down 0.28 per cent, Dow Jones futures were down 0.17 per cent and Nasdaq 100 futures were down 0.22 per cent.
Japan's Nikkei stock average dropped 2.4 per cent on Monday to hit its lowest close since May 1, with Panasonic (6752.T) tumbling 7.6 per cent after it forecast a bigger-than-expected annual loss following a record quarter of red ink, battered by weak demand, price falls and restructuring costs.
European stocks were down around 0.8 per cent in early trade in a broad retreat led by miners such as Rio Tinto (RIO.L) and BHP Billiton (BLT.L).
Japanese manufacturing sentiment edged up from record lows this month, keeping alive hopes that a disastrous first quarter marked a low point in Japan's and the world economy's worst recession since World War Two.
Monday's monthly Reuters survey of Japan's top companies follows last week's better-than-expected machinery orders data for April and a US consumer survey showing confidence at its highest since last September's collapse of Lehman Brothers.
AIG is to speed up plans to list its Asian subsidiary through an IPO that could raise more than $4 billion, as the bailed-out US insurer seeks to raise cash to pay back government loans.