September 27, 2013- Stocks Trade Lower on US Economic Concerns

The mood on Wall Street has turned cautious yet again after yesterday's rebound, as the issues that are holding the markets back are once again on the forefront. The major U.S. index futures are pointing to a lower opening on Friday. The non-resolution of the U.S. budgetary crisis and fears of premature tightening by the U.S. Federal Reserve have been working in the minds of traders, preventing any meaningful recovery. As the markets look for clarity on these twin concerns, the Commerce Department's personal income and spending report and some Fed speeches scheduled for the day are likely to give some directional cues. The Dow futures are slipping 45 points, the S&P 500 futures are moving down 6.40 points and the Nasdaq 100 futures are declining 10.75 points. U.S. stocks staged a modest rebound on Thursday after trading on a lackluster note in the previous five sessions amid mostly positive economic data. On the economic front, the Commerce Department is scheduled to release its personal income and spending report for August at 8:30 am ET. Economists expect personal income growth of 0.4 percent month-over-moth, while personal spending may have risen by 0.3 percent.