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Stock futures were only slightly higher after weekly jobless claims showed only the slight improvement already expected by economists. Several major Wall Street banks slipped in premarket trading.
The top securities regulator said no single event had been found to explain Thursday's mysterious market plunge, but the shocking drop was unacceptable and additional safeguards were coming.
The SEC and the major trading exchanges agreed that a market-wide "circuit-breaker" system should be established to handle the type of market volatility demonstrated in Thursday's unsettling market plunge.
President Barack Obama said Friday that regulatory authorities were probing one of the wildest trading days in Wall Street history that left investors, government officials and traders scratching around for a cause.
GMAC plans to return to the stock markets with an IPO in the next two years, in a move aimed at gradually exiting from government help and eventually repaying its rescue aid.
Wall Street shares were slightly lower as investors tried to assess the fallout from Dubai’s debt crisis as well as retail sales from the kickoff of the Christmas shopping season.