Stock Futures Point for a Flat Open. Stocks to Watch: RTP, HMC, SUN

Published on Friday, 05 February 2010 08:45 Written by Danny Miller

New York, Feb 5th (TradersHuddle.com) – Stock futures were pointing fractionally lower after the unemployment report showed a surprisingly lower unemployment rate at 9.7, which is a 5 month low. Despite Asian shares plunging, Wall Street futures signal a that the selling that started yesterday might be due for a rest.

Today Stocks to watch:  Honda Motor (NYSE:HMC), Rio Tinto (NYSE:RTP), Sunoco (NYSE:SUN)

Honda Motor (NYSE:HMC), the Japanese car maker that gets about 80% of its revenue outside of Japan slid more than 3% in Tokyo, as the yen strengthen on speculation that investors will unwind the carry trade, when they sell their riskier assets and move to safe haven assets.

Rio Tinto (NYSE:RTP), the world’s number 3 mining company plunged in overseas trading as metal prices took a dive, on concern that higher government deficits along with unemployment in the U.S. will derail the economic recovery and dampen metals demand.

Sunoco Inc. (NYSE:SUN): The largest U.S. refiner on the East Coast reported a fourth-quarter adjusted loss of 27 cents a share. The results for the refiner were weaker than expected as higher crude prices pressure refining margins.