Futures fall after snap-back rally


Reuters
August 10, 2011

U.S. stock index futures fell on Wednesday after a sharp snap-back rally in the last session and as investor fears about the economy and high levels of public debt looked set to generate more volatile trading.

Stocks zigzagged on Tuesday after the U.S. Federal Reserve promised to hold interest rates low for at least two years, before the S&P 500 index rallied 5 percent into the close. But the Fed’s statement also underlined the struggling economy and was a reminder that markets would likely remain choppy in the near term. For details, see [ID:nN1E7780FW]

“At this point of time, investors’ heads are spinning,” said Oliver Pursche, president at Gary Goldberg Financial Services in Suffern, New York.

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