Stock Futures Head South as the EU Summit Hangover Sets In. Stocks to Watch: LNG, AAPL, BAC, T, LMT, GM

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Futures in the US market are modestly negative this morning after Moody’s piled on with S&P saying that the credit ratings of several EU countries remained under pressure. This was announced after the IMF said over the weekend the EU summit deal was not enough to properly deal with the sovereign debt crisis.

The agreement on Friday was mostly medium term solutions set to address ballooning debt. Concerns for investors started to pop overnight after they realized their was little in the short-term to address skyrocketing debt financing costs. With no major economic data coming out of the United States all eyes continued to be focused on Europe and its near constant crisis state.

In addition to equities being weak, commodities also took a major hit in overnight trading. Gold was especially hard hit being down nearly 2%. Oil also followed the precious metals basket lower, dropping to 98.22 a barrel on economic slowdown concerns.

As of 8am EST the Dow Jones is off 85 points, the Nasdaq is shedding 14.75 and the S&P is set to give up 10 points.

Stocks to watch this morning include Cheniere Energy, Inc. (AMEX:LNG), Apple Inc. (NASDAQ:AAPL), Bank of America (NYSE:BAC), AT&T Inc. (NYSE:T), Lockheed Martin Corporation (NYSE:LMT) and General Motors Company (NYSE:GM)

Cheniere Energy, Inc. (AMEX:LNG) is up 6.62% at $10.15 in pre market trading. LNG trades 4.97 million shares a day on average. India’s state-run gas utility GAIL signed a pact with Cheniere Energy for supply of 3.5 million tonnes of liquefied natural gas annually. These deliveries will start in 2017. The company has a market cap of 788.67 million.

Apple Inc. (NASDAQ:AAPL) is down slightly in pre market trading at $392.01. AAPL trades 14.36 million shares a day on average. Since last Wednesday, AAPL stock has moved up from $388 a share to nearly $394 a share. Apple has a market cap of 365.83 billion.

Bank of America Corp. (NYSE:BAC) is down 1.75% in pre market trading at $5.62. BAC trades 272.26 million shares a day on average. BAC stock is under pressure this morning as the market is set to open lower. Whichever way the market heads, BAC is usually right behind it. BAC has had a decent move from around $5 two weeks ago to around $5.75 the past few days. The company has a market cap of 57.98 billion.

AT&T Inc. (NYSE:T) is down 0.41% in pre market trading at $28.91. T has trades 23.88 million shares a day on average. T traded mostly flat last week, only moving about $0.25 a share. AT&T has a market cap of 172.03 billion.

Lockheed Martin Corporation (NYSE:LMT) is down slightly in pre market trading at $77.22. LMT trades 2.72 million shares a day on average. Over the weekend there was news that Lockheed Martin received a $4 billion order from the U.S. military for the F-35. Lockheed has a market cap of 25.05 billion.

General Motors Company (NYSE:GM) is down 0.71% in pre market trading at $21.00. GM trades 12.24 million shares a day on average. GM’s European subsidiary, Opel, is expecting to make a profit of 1 billion euros in 2016. General Motors has a market cap of 33.09 billion.