Bracing for another day of struggle

Futures weak amid ongoing concerns about problems in mortgage sector; sale of Home Depot unit in question.

August 24 2007: 5:08 AM EDT

LONDON (CNNMoney.com) -- U.S. stocks are set for another day of struggle Friday after renewed credit fears derailed an early rally the previous session.

At 4:51 a.m. ET, Nasdaq and S&P futures were lower, with a comparison to fair value pointing to a weak start for Wall Street.

Investors built up confidence Thursday after troubled mortgage lender Countrywide Financial (Charts, Fortune 500) scored a $2 billion investment from Bank of America (Charts, Fortune 500), but they couldn't shake ongoing concerns about the credit markets, and stocks ended the session slightly lower.

Home Depot's (Charts, Fortune 500) sale of its wholesale distribution unit to three private equity firms also is in question, which could exacerbate investor worries. Negotiations over financing has turned hostile, the Wall Street Journal reported. The price of the sale has already been slashed amid the credit crunch.

Wall Street's weak performance spilled over to Asia, where stocks fell on Friday. In Europe, major markets struggled in morning trading. Top of page

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Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2012 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2012 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2012. All rights reserved. Most stock quote data provided by BATS.
© 2012 Cable News Network. A Time Warner Company. All Rights Reserved. Terms under which this service is provided to you. Privacy Policy. Ad choices .