Markets have fallen in recent days as investors opted to take money off the table after a record-breaking run. The main U.S. indexes have shot up by 20% to 32% so far this year, supported by the Federal Reserve's $85-billion-per-month bond-buying program.
The Republican-controlled U.S. House approved a compromised federal budget agreement on Thursday which could raise the chance that the Fed will begin winding back its support for the economy soon.
A tapering decision might come as early as next week when the central bank holds its final policy meeting for the year.
It's a light day for economic news. The U.S. Labor Department is due to release its monthly Producer Price Index at 8:30 a.m. ET.
Shares of petroleum company Anadarko (Fortune 500) were down nearly 12% in premarket trading, after a court ruled that it and its Kerr-McGee unit acted improperly in its 2005 spinoff of paint materials company , Tronox (. The judge said that the company should pay for environmental cleanup. )
Adobe ( shares surged in after-hours trading Thursday following quarterly sales results that came in ahead of expectations. )
Qualcomm (Fortune 500) named Chief Operating Officer Steve Mollenkopf as its next CEO, succeeded Dr. Paul Jacobs, who will remain as executive chairman. Mollenkpof's name was recently tossed around as a possible successor to Steve Ballmer at , Microsoft (Fortune 500). ,
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|Overnight Avg Rate||Latest||Change||Last Week|
|30 yr fixed||4.28%||4.37%|
|15 yr fixed||3.32%||3.40%|
|30 yr refi||4.28%||4.38%|
|15 yr refi||3.31%||3.39%|
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