S&P futures vs fair value: -14.30. Nasdaq futures vs fair value: -27.00. As of the prior session's close, stocks have advanced roughly 8% this week. That, coupled with an absence of positive headline support, is likely to prompt many participants to take profits. As such, stock futures currently point to a lower start for the major indices. The question, though, is whether a supportive bid will emerge to buy any such dip. For now, traders are digesting word...
Consumer Spending Up for Second Month
Getty ImagesThe Commerce Department reports that consumer spending edged up 0.2 percent in February, following a huge 1 percent jump during the previous month. The positive news comes despite the fact that incomes have dipped due to massive layoffs.
Chief executives of several top U.S. banks are making the pilgrimage to Washington for a Friday meeting with President Barack Obama to discuss ongoing risks to the financial system and a new regulatory framework.
DryShips (DRYS) fell 12% after reporting a $1.02 billion quarterly loss and saying it's still in talks with lenders to waive breaches of loan covenants.
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