November 09, 2012-Markets Under Fiscal Pressure

Even as Wall Street prepares to receive a speech by the newly elected president Barack Obama, outlining his economic agenda, economic optimism is eluding it. The major index futures point to a subdued open. European stocks are trading lower amid fears over a Greek salvation, while Asian stocks went about in a lackluster fashion. The domestic markets may also stay tuned to a key consumer sentiment data due shortly after the markets open. The Dow futures are declining 37 points, the S&P 500 futures are edging down 3.40 points and the Nasdaq 100 futures are down 1.25 points. The negativity on Wall Street on Thursday became so intense that traders chose to ignore some fairly positive data points and offloaded stocks. Economic concerns continued to hurt sentiment, as the prospects of the economy averting the fiscal cliff became increasingly bleak.