Stock futures signal drop after strong rally (Reuters)

Reuters - Stocks were set for a lower open on Friday, surrendering some of the hefty gains made in the previous session after the S&P 500 and Nasdaq indexes touched five-year lows that triggered a wave of bargain hunting. By 6:05 a.m. EST, S&P 500 futures were down 1.6 percent, Dow Jones futures were down 1.5 percent and Nasdaq 100 futures weredown 0.7 percent.