(Reuters) – Stock index futures pointed to a weaker open for equities on Wall Street on Wednesday, with futures for the SP 500, for the Dow Jones and for the Nasdaq 100 down 0.4-0.7 percent.
Standard Poor’s reduced its credit ratings on 15 big banking companies, mostly in the Europe and the United States, on Tuesday as the result of a sweeping overhaul of its ratings criteria.
JPMorgan Chase Co (NYSE:JPM), Bank of America Corp (NYSE:BAC), Citigroup Inc (NYSE:C), Wells Fargo Co (NYSE:WFC), Goldman Sachs Group Inc (NYSE:GS), Morgan Stanley (NYSE:MS), Barclays Plc (LSE:BARC.L), HSBC Holdings Plc, (LSE:HSBA.L) Royal Bank of Scotland (AAHAUS.UL) Group Plc and UBS AG (VTX:UBSN.VX), were among the banks that had their ratings reduced by one notch each.
The ADP Employment report for November, due at 1315 GMT, is expected to show its best reading since April and the third consecutive gain greater than 110,000. The
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