Stock Futures Follow Global Markets Lower with Research In Motion (RIMM) and Pep Boys (PBY) on the move
Posted on May 30, 2012 at 08:05 AM EDT
First look... Stock futures are lower ahead of the open, sputtering along with the European equity markets and oil, after Spain's debt was thrust deeper into junk territory. On the tech front, all eyes will be on Facebook (FB) and its continued slide. Shares of the social-networking giant started their second full week of trading with another retreat, falling almost 10% to close below $29 on Tuesday on the first day of options trading in the stock. Asian stocks fell Wednesday as hopes for a large Chinese stimulus package were dashed and concerns about Spanish banks resurfaced. The short rally that buoyed stocks in recent sessions ran out of steam, as most markets ended mildly down in a day characterized by relatively light trading volumes. Hong Kong stood out, howeve...(Click the story link or go to http://www.marketintelligencecenter.com for the full story)