Futures slip after S&P hits pre-recession levels
NEW YORK (AP) — Stock futures are cooling off after the Standard & Poor's index reached levels last week not seen since the start of the Great Recession.
Dow Jones industrial futures are down 8 points to 13,338. The broader S&P futures have lost 0.80 points to 1,456.90. Nasdaq futures are down a point at 2,712.
Investors appear to be taking some money off the table with the earnings season kicking off Tuesday.
The S&P 500 is now 2 percent higher than it was on election day and on Friday closed at 1,466, the highest since December 2007.
On Monday, Bank of America said it would pay Fannie Mae $3.6 billion and buy back $6.8 billion in loans to settle mortgage claims from the housing meltdown.
Business Photo Galleriesview all
- 79546Oklahoma tornadoes: 'It took it all'
- 30543Oklahoma Severe Storm Updates
- 28179Oklahoma State football: Limiting Wes Lunt's transfer options makes Mike Gundy look bad
- 26729Oklahoma weather: Crews work to clear storm damage in Oklahoma City as the state braces for severe weather Sunday.
- 7711Bounty hunters look for bail jumpers, fugitives on the streets of Oklahoma City
- 7142Oklahoma City Thunder: What could Serge Ibaka learn from Hakeem Olajuwon?
- 7088Oklahoma tornadoes: Several homes damaged by tornado, but no injuries in Edmond