Futures market points to negative open for U.S. stocks after big rally this week


TORONTO — The futures market pointed to a negative open for U.S. stock markets today after three days in a row of gains for stocks.

North American stock markets have rallied this week as U.S. politicians worked on a massive economic aid package that includes direct payments to U.S. households and aid to hard-hit industries.

The US$2.2 trillion plan is due to be voted on by the House of Representatives today.

The U.S. Federal Reserve also said this week it will buy as much government debt as it deems necessary and begin lending to small and large businesses and local governments.

Stocks were down in European trading markets in Germany, France and Britain, and Asian markets were mixed overnight.

The Canadian dollar traded for 71.08 cents US compared with an average of 71.04 cents US on Thursday.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD=X)


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