Stocks: Europe remains in focus

@CNNMoneyInvest November 25, 2011: 7:49 AM ET
premarkets

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NEW YORK (CNNMoney) -- U.S. stocks were poised to open lower Friday as eurozone fears continued to weigh on investors.

Dow Jones industrial average (INDU), S&P 500 (SPX) and Nasdaq (COMP) futures were lower ahead of the opening bell. Stock futures indicate the possible direction of the markets when they open at 9:30 a.m. ET.

On Thursday, German Chancellor Angela Merkel and French President Nicolas Sarkozy agreed to institute a plan to change the EU's treaties in an effort to rebuild trust in the monetary union. But investors weren't assured by the news.

"The meeting between Sarkozy and Merkel failed to really calm market jitters," said Peter Cardillo, chief market economist at Rockwell Global Capital. "They didn't come up with any quick solutions. The market's going to continue to press the will of the EU leaders until they come up with a solid solution."

Europe's debt: Pressure's on

U.S. stocks slid deep into the red Wednesday, ending down more than 2%, as eurozone fears rumbled on and a preliminary report showed that Chinese manufacturing has slowed sharply. Markets were closed Thursday for Thanksgiving.

U.S. markets will close at 1 p.m. Friday due to the Thanksgiving holiday.

Companies: Shares of AT&T (T, Fortune 500) fell about 1% in premarket trading. The telecom service provider said Thursday it was taking a $4 billion charge to cover the break-up fee it will owe, if its deal to acquire T-Mobile falls through. The FCC said earlier this week that it will oppose the merger, becoming the second regulatory body to do so.

World markets: European stocks edged lower in morning trading. Britain's FTSE 100 (UKX) shed 0.5%, the DAX (DAX) in Germany slipped 0.5% and France's CAC 40 (CAC40) fell 0.4%.

Asian markets ended the day lower. The Shanghai Composite (SHCOMP) lost 0.7%, the Hang Seng (HSI) in Hong Kong dropped 1.4%, and Japan's Nikkei (N225) fell 0.1%.

Currencies and commodities: The dollar gained strength against the euro, the British pound and the Japanese yen.

Oil for January delivery slipped $1.93 to $95.91 a barrel.

Gold futures for December delivery fell $15.60 to $1,680.30 an ounce.

Bonds: The price on the benchmark 10-year U.S. Treasury was little changed, with the yield holding steady at 1.88% from late Wednesday.  To top of page

Index Last Change % Change
Dow 31,391.52 -143.99 -0.46%
Nasdaq 13,358.79 -230.04 -1.69%
S&P 500 3,870.29 -31.53 -0.81%
Treasuries 1.42 -0.03 -2.14%
Data as of 7:36pm ET
Company Price Change % Change
Ford Motor Co 8.29 0.05 0.61%
Advanced Micro Devic... 54.59 0.70 1.30%
Cisco Systems Inc 47.49 -2.44 -4.89%
General Electric Co 13.00 -0.16 -1.22%
Kraft Heinz Co 27.84 -2.20 -7.32%
Data as of 2:44pm ET
Overnight Avg Rate Latest Change Last Week
30 yr fixed3.80%3.88%
15 yr fixed3.20%3.23%
5/1 ARM3.84%3.88%
30 yr refi3.82%3.93%
15 yr refi3.20%3.23%
Rate data provided
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