November 16, 2012-Stocks Set for a Slightly Lower Open

Wall Street's lackluster run is set to continue, as indicated by the U.S. index futures, which point to a lower opening. The newly re-elected U.S. President Barack Obama is set to hold budget talks with his Republican counterparts in a bid to mitigate the impact of the looming fiscal cliff. Apart from focusing on what transpires in the meeting, traders may also closely watch the U.S. industrial production report due to be released shortly before the markets open. In Asia, stocks had a mixed outing amid hopes of additional easing in Japan. European stocks are extending their lean run, as Greece fights tooth and nail to secure additional funding from the Troika and domestic data point to sluggishness in the near term. The Dow futures are down 43 points, the S&P 500 futures are slipping 4.80 points and the Nasdaq 100 futures are declining 6.50 points. U.S. stocks turned in another lackluster performance on Thursday, ending the session modestly lower, as lukewarm economic data both from the U.S. and Europe weighed on sentiment.