US pre-open: Stocks seen lower
US stocks are set to be on the back foot on Friday as insurance firm American International Group posted big losses raising credit fears.
AIG posted first-quarter losses of $7.81bn late yesterday and said it will need to raise $12.5bn in the coming months.
On the economic front, the Commerce Department will report on March's international trade deficit.
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Attention will also be given to the exorbitant oil prices, which are currently well past $125 a barrel, as the weaker dollar pushes investors to buy commodities.
Across the markets, the Dow Jones fell 81 points to 12,743 with the Nasdaq falling 8 points to 1956. The S&P 500 is due to fall 7 points.
In other company news, General Motors said in a regulatory filing that it would give financial support to end the strike at auto parts supplier American Axle and Manufacturing Holdings.
