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Futures Point to Major Decline on Reopen: Report
By: PAUL JACKSON
January 21, 2008
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It looks like concerns linked to the mortgage and housing markets may take a chunk out of equities Tuesday:
If futures contracts traded on a day when U.S. stocks weren’t even due to open are anything near accurate, then markets will be in for a major decline on Tuesday, with concerns about bond insurers and the health of financial institutions dragging markets lower.
The Dow Jones Industrial Average futures contract was recently off 520 points at 11,586, the Nasdaq futures were at 1773.25, down 76.25, and the Standard & Poor’s 500 futures recently were at 1265, down 60.3.
It’s worth noting that fear of a housing-induced cold in the U.S. already has the rest of the world coughing.
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Events
2008 Aug 12
Western States Loan Servicing Conference
Annual servicing industry conference hosted by the CMBA; usually well attended on a national level.
2008 Aug 23
Executive Summit on Mortgage Fraud
High-level conference focused on quantifying and managing mortgage fraud. Speakers to include execs from OFHEO, FBI, Fannie, Freddie.
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2008 Sep 17
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2008 Oct 19
MBA Annual Convention & Expo
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