S&P, DJIA Futures Near 2-Year Lows Amid Heavy Volume
By Kristina Zurla Landgraf • Jul 11th, 2008 • Category: Market UpdatesCrude oil hits a new high…the stock market falls to new lows. Both S&P and DJIA futures are now trading at their lowest prices in nearly two years. September E-mini S&P futures sank to 1232.50 amid heavy volume of more than a million contracts in less than a half day’s trade. The S&P is headed for a sixth straight weekly decline.
DIJA futures have fallen to 11,010. Shares of Fannie Mae and Freddie Mac, the largest buyers of U.S. home loans, have each lost about a third of their value and are weighing on market sentiment as the remnants of the housing bubble’s bursting linger on.
