Before the bell: Stocks to start lower as economic stimulus, bank bailout plans delayed

Posted Feb 9th 2009 7:42AM by Melly Alazraki
Filed under: Before the Bell, Market Matters, Politics, Oil, Recession, Financial Crisis

U.S. markets were set to open lower Monday morning as indicated by stock futures. It seems that last week's rally, which stemmed from hope the economic stimulus and the new bank bailout plans would pass, lost its legs as the vote on Obama's stimulus plan was delayed yet again, and the revealing of the details of the bank aid plan was also pushed back a day.

Overseas, world stock markets mostly fell Monday despite Friday's rally on Wall Street because of the delays in the U.S. plans for both economic stimulus and the new bank bailout. Oil prices continued to hover near $40 a barrel as the stimulus plan and its effects were weighed against the recession with its soaring unemployment and hence falling demand for crude.

There are no major indicators out today.

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