Stock futures point lower Wednesday
Posted on: Wednesday, 3 December 2008, 07:15 CST
U.S. stock futures pointed lower Wednesday in advance of employment and productivity reports.
Futures on the Dow Jones industrial average, the S&P 500 and the Nasdaq composite index all were down before the opening bell, indicating Wednesday will be a tough day for stocks prices, CNNMoney.com reported.
Challenger, Gray & Christmas reported early that November's layoff total jumped to 181,671, the largest monthly figure in seven years, pushed by 50,000 layoffs announced by Citigroup Inc.
Investors are anxiously awaiting signals from Washington on whether lawmakers will approve up to $38 billion in bailout funds for U.S. automakers.
The Institute for Supply Management is also set to release its non-manufacturing business activity index Wednesday.
Source: United Press International
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