Futures slide; markets appear headed for down week

AP News
Posted: May 24, 2013 8:10 AM
Futures slide; markets appear headed for down week

NEW YORK (AP) — Stock futures are sinking and it appears major U.S. indexes are heading for a down week roiled by corporate earnings, good and bad, and confusion about what the Fed will do next.

Dow Jones industrial futures are down 56 points to 15,233. S&P futures have lost 8.9 points to 1,641.10. Nasdaq futures are down 15.5 points to 2,976.75.

Retail shares are falling, led by Sears, after it posted a big loss late Thursday. Gap is falling with investors overlooking a strong quarterly report, and focusing instead on an outlook that disappointed some traders.

Investors on Friday were still trying to figure out how committed the Federal Reserve is to its current stimulus efforts, with mixed signals coming from Chairman Ben Bernanke and other Fed officials.