Stock Futures Slightly Higher For Week

Stock Futures--- Stock futures yesterday plunged across the board with the S&P 500 down 31 points but rallying today on over sold conditions up 8 points currently trading in the September contract at 1327 while the NASDAQ composite futures for the September contract were down 60 points yesterday however is also rallying 20 points today in a very volatile week currently trading at 2585 on worries about economic slowdowns across Europe and China as well as the United States with the federal reserve yesterday lowering GDP forecast which is very negative many commodities and stocks around the world today. The Dow Jones industrial futures contract for the September delivery yesterday finished down by 250 points which was the 2^nd worst day of the year only to rebound by 60 points currently at 12.565 in sympathy with the rest of the commodities with precious metals and the energy sector making new yearly lows this week putting pressure on many of the oil companies in the S&P 500 which is causing slightly lower prices across the board this week. The fact that the GDP is been lowered definitely is a negative to stock prices, however the one thing I've realized in the S&P 500 is that generally it does come back just probably not today but still bullish longer-term because stock market  is relatively cheap compared to interest rates and other hard assets. The Federal Reserve announced yesterday that they will continue the twist program which is selling short-term treasuries and buying long-term treasuries trying to get the 30 year yield as low as possible which was disappointing the traders yesterday which were looking for more of a QE3 type of scenario causing traders to sell.

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