U.S. stock futures slid, indicating the Standard & Poor’s 500 Index may post its longest losing streak since October 2008, amid concern that growth in the world’s largest economy is faltering.
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“There is growing concern that the U.S. may relapse back into a recession,” said Mike Lenhoff, chief strategist at Brewin Dolphin Securities Ltd. in London. “With the numbers being what they are, it has begun to influence people’s thoughts. I still think it could be just a soft patch.”
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The selloff brought the S&P 500 momentarily below its average price of the last 200 days of about 1,285. A drop below the 200-day moving average might trigger further losses, according to analysts who study charts to make forecasts.
http://www.bloomberg.com/news/2011-08-02/u-s-stock-index-futures-retreat-on-concern-economic-recovery-is-faltering.html
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“There is growing concern that the U.S. may relapse back into a recession,” said Mike Lenhoff, chief strategist at Brewin Dolphin Securities Ltd. in London. “With the numbers being what they are, it has begun to influence people’s thoughts. I still think it could be just a soft patch.”
...
The selloff brought the S&P 500 momentarily below its average price of the last 200 days of about 1,285. A drop below the 200-day moving average might trigger further losses, according to analysts who study charts to make forecasts.
http://www.bloomberg.com/news/2011-08-02/u-s-stock-index-futures-retreat-on-concern-economic-recovery-is-faltering.html
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