Sunday, September 30, 2012

Stock Futures Slip as Home Prices Slide, Sears Disappoints

Stock futures fell on Tuesday, as Asian stocks fell and European markets were mixed. The Case-Shiller index showed that home prices fell 1.2% in October, dropping in 19 out of 20 cities surveyed; prices are down 32.1% from their peak.

The Conference Board is set to release confidence data at 10 a.m.

Dow futures fell 18 points to 12,199. S&P 500 futures fell 3.3 points to 1,257.

Sears (SHLD) plunged 16% in pre-market trading after issuing a disappointing forecast and announcing it plans to close up to 120 stores. Egg supplier Cal-Maine Foods (CALM) rose 7.7% on strong earnings.

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