Indications: U.S. stock futures flat as AIG tumbles

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By Steve Goldstein, MarketWatch

LONDON (MarketWatch) -- U.S. stock futures were flat Friday, as worries surrounding the economy's health, interest-rate policy and sovereign debt continue while American International Group reported a multi-billion-dollar loss.

S&P 500 futures rose seven-tenths of a point to 1,103.00 while Nasdaq 100 futures were down a half point to 1,813.00. Futures on the Dow Jones Industrial Average were unchanged.

U.S. stocks closed lower Thursday amid disappointing economic data and concerns over Greece, though leading indexes finished off the session's worst levels. The Dow Jones Industrial Average fell 53 points, the S&P 500 and Nasdaq Composite each lost 2 points.

Larry Hatheway, an economist at UBS, said policy uncertainty -- from China tightening to the Fed's discount-rate hike and the Greek debt woes -- aren't likely to be resolved quickly or easily.

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UBS advised a cautious stance -- a small overweight to high-yield credit; soft commodities, real estate and cash; a neutral allocation to global stocks; and underweight allocations to government bonds.

Some global economic news offered cheer, as the U.K. revised higher its fourth-quarter GDP view to 0.3% growth from 0.1% growth, while India reported slower-than-expected 6% growth but announced deficit-cutting measures that lifted stocks locally. See U.K. story. See India story.

The U.S. also will be reporting revised GDP figures for the fourth quarter, with consumer sentiment for February and existing-home-sales data for January.

American International Group /quotes/comstock/13*!aig/quotes/nls/aig (AIG 27.51, -0.48, -1.71%) dropped 9% as the New York insurer said its fourth-quarter loss narrowed to $8.9 billion from $61.6 billion. Its red ink swelled due to payments to reduce the New York Fed's credit facility as well as on the pending sale of Nan Shan Life, loss reserve strengthening and a valuation allowance charge for tax benefits that aren't presently recognizable.

Fluor /quotes/comstock/13*!flr/quotes/nls/flr (FLR 45.05, -0.23, -0.51%) fell 6% after the engineering group cut its earnings outlook.

The Gap /quotes/comstock/13*!gps/quotes/nls/gps (GPS 20.39, +0.10, +0.49%) rose 4% after the retailer said its 2010 earnings would be stronger than the market expected as it said it would repurchase $1 billion of stock.

The euro was back in favor, hovering around $1.36, and oil and gold futures made modest gains.

Steve Goldstein is MarketWatch's London bureau chief.

NYSE Arca Morning Update - 08:30:00 ET

NYSE Arca Morning Update for Friday, Feb 26, 2010 :

STOCKS TRADING ON NYSE Arca AT A PRICE 15% OR MORE AWAY FROM
THE PREVIOUS TRADE DAY'S CONSOLIDATED CLOSE PRICE (AS OF 08:30:00 ET)

Stock Thursday's Close Current Price Pct Change Current NYSE ARCA Vol
CKR $8.90 $11.27 26.6% 505,809
RST $17.29 $21.28 23.1% 30,500
MGLN $39.51 $45.52 15.2% 1,100

10 MOST ACTIVE STOCKS ON NYSE ARCA AS OF 08:30:00 ET

BASED ON DOLLARS TRADED: | BASED ON SHARES TRADED:
Stock $ Volume Price PctChg | Stock Share Vol Price PctChg
SPY $49,791,811 $110.73 0.0% | C 968,046 $3.39 ( 0.3%)
GLD $13,907,907 $108.56 0.2% | CKR 505,809 $11.27 26.6%
AIG $12,417,734 $25.73 ( 6.5%) | SIRI 497,139 $1.08 0.6%
QQQQ $10,547,456 $44.58 ( 0.1%) | AIG 484,462 $25.73 ( 6.5%)
AAPL $5,653,660 $202.42 0.2% | SPY 449,208 $110.73 0.0%
CKR $5,609,967 $11.27 26.6% | QQQQ 236,501 $44.58 ( 0.1%)
BHP $3,634,948 $72.15 ( 0.2%) | CROX 201,654 $7.00 (10.3%)
SDS $3,305,200 $35.01 ( 0.0%) | BAC 180,709 $16.51 ( 0.2%)
C $3,283,981 $3.39 ( 0.3%) | GLD 128,068 $108.56 0.2%
BAC $2,987,857 $16.51 ( 0.2%) | F 128,053 $11.80 0.3%

Price changes may be affected by symbol splits and dividends.

Consolidated close price is the last print (excluding prints with trade
conditions) prior to 4PM ET.

This information is also updated on our web page every morning at 8:35ET:
http://www.tradearca.com/data/volume/daily_update.asp

This material is for informational purposes only.
NYSE Euronext and its affiliates ("NYSE Arca") are not soliciting any action based upon it.
This material is not to be construed as an offer to buy or sell any security in any jurisdiction where such an offer or solicitation would be illegal.
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Indications: U.S. stock futures edge higher

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By Steve Goldstein, MarketWatch

LONDON (MarketWatch) -- U.S. stock futures edged higher Friday, as markets continue their herky-jerky path as issues surrounding the economy's health, interest-rate policy and sovereign debt continue.

S&P 500 futures rose 3.3 points to 1,105.60 and Nasdaq 100 futures rose 2.75 points to 1,816.20. Futures on the Dow Jones Industrial Average rose 20 points.

Sizing up India's Budget

Indian Finance Minister Pranab Mukherjee walked a tightrope with India's budget. Did he fall off or make it to the other side? India bureau chief Paul Beckett speaks to WSJ's Amol Sharma.

U.S. stocks closed lower Thursday amid disappointing economic data and concerns over Greece, though leading indexes finished off the session's worst levels. The Dow Jones Industrial Average fell 53 points, the S&P 500 and Nasdaq Composite each lost 2 points.

Larry Hatheway, an economist at UBS, said policy uncertainty -- from China tightening to the Fed's discount-rate hike and the Greek debt woes -- aren't likely to be resolved quickly or easily.

UBS advised a cautious stance -- a small overweight to high-yield credit; soft commodities, real estate and cash; a neutral allocation to global stocks; and underweight allocations to government bonds.

Some global economic news offered cheer, as the U.K. revised higher its fourth-quarter GDP view to 0.3% growth from 0.1% growth, while India reported slower-than-expected 6% growth but announced deficit-cutting measures that lifted stocks locally. See U.K. story. See India story.

The U.S. also will be reporting revised GDP figures for the fourth quarter, with consumer sentiment for February and existing-home-sales data for January.

American International Group (AIG) /quotes/comstock/13*!aig/quotes/nls/aig (AIG 27.51, -0.48, -1.71%) headlines Friday's list of earnings. AIG is expected to report a fourth-quarter loss of $3.94 a share, according to analysts surveyed by Thomson Reuters.

Fluor /quotes/comstock/13*!flr/quotes/nls/flr (FLR 45.05, -0.23, -0.51%) may see pressure after the engineering group cut its earnings outlook.

The Gap /quotes/comstock/13*!gps/quotes/nls/gps (GPS 20.39, +0.10, +0.49%) may climb after the retailer said its 2010 earnings would be stronger than the market expected as it said it would repurchase $1 billion of stock.

The euro was back in favor, hovering around $1.36, and oil and gold futures made modest gains.

Steve Goldstein is MarketWatch's London bureau chief.