A selloff Friday sent the markets to the first weekly drop in a month after AIG, the world's largest insurer, reported a massive $7.8 billion loss.

Oil prices pushed higher into record territory, jumping more than 8 percent on the week. The dollar weakened against the Euro and Yen, and geopolitical tensions rose in producers Venezuela and Nigeria.

Citigroup plans to unload about $400 billion of assets over the next three years in an effort to strengthen its capital base and unload riskier investments.

Late Friday, FedEx cut its earnings outlook for the current quarter, citing rising fuel costs and weak U.S. Economy. Investors will react to that in today's session.

Here's how things start out today:
The Dow starts out 12,745.
The Nasdaq starts at 2,445.

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