Futures little changed amid bank bill


U.S. stock index futures are fluctuating  on either side of unchanged this morning, following a weak session in Asian markets, and a moderately lower session in Euro zone and U.K. markets.


Banking stocks had traded higher after a compromise was worked out on the handling of swap desks, which will force banks to spin those operations out into subsidiaries. In Europe, the perceived risk of Greek debt jumped again to another record, following yesterday's blowout in spreads. This has brought the issue of the risk Greece poses to the rest of Europe to the forefront once again, and this has kept a lid on any advances in equity markets as a result.

Industrial metals pricing also was weak, reflecting concerns about future demand as Europe readies stringent austerity measures along with Japan. While none of these issues are news, the discounting of those worries doesn't appear to have subsided.

Research in Motion ( RIMM ) will likely be active to the downside this morning after the company reported earnings last night after market close. Unit shipments appeared to have come in lighter than expectations. Forecasted revenue for the coming quarter was also shy of the high end of expectations.

In the pre-market, the stock has traded down as much as 5 percent, which is helping to make the Nasdaq 100 index the weakest of the major averages so far today. The stock is heavily weighted in that index. There are no major earnings announcements for today, and that will help keep the focus on RIMM. Volume is likely to be light as it has been all week, though large surprises in today's economic data could alter that picture.

(Chart courtesy of tradeMONSTER )

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Copyright © 2010 OptionMonster® Holdings, Inc. All Rights Reserved.

This article appears in: Investing , Options

Referenced Stocks: NDX , RIMM , SPX , XLF



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