Log in
Lost password
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  News


Latest NewsCompaniesMarketsEconomy & ForexCommoditiesHot NewsMost Read NewsRecomm.Business LeadersVideosCalendar 

U.S. Stock Futures Decline as Euro Zone, Fed Weigh

02/21/2013 | 09:03am US/Eastern

--Stock futures tilt lower; DJIA down 19, S&P off three

--Jobless claims higher than expected in latest week

--CPI unchanged, and core CPI climbs 0.3%, more than 0.2% expected

By Tomi Kilgore and Alexandra Scaggs

NEW YORK--Stocks looked set to open lower, as a report on the U.S. labor market came in worse than expected and weak euro-zone data weighed on global markets.

About 60 minutes ahead of the open, Dow Jones Industrial Average futures slipped 19 points, or 0.1%, to 13870. On Wednesday, the Dow fell 108 points, or 0.8%, the second-biggest point and percentage decline of the year, after the Federal Reserve hinted it may end its stimulative asset-purchase program sooner than expected.

Standard & Poor's 500-stock index futures gave up three points, or 0.2%, to 1504 and Nasdaq 100 futures lost nine points, or 0.3%, to 2729.

Changes in stock futures don't always accurately predict stock moves after the opening bell.

Initial claims for jobless benefits rose to 362,000 more than the 350,000 expected. The consumer price index for January was unchanged on the month, and increased by 0.3% excluding volatile food and energy costs.

At 10 a.m., existing-home sales for January are expected to decline 1% to a seasonally adjusted annualized rate of 4.89 million; the Philadelphia Federal Reserve's February index of business activity is seen rising to +3.0 from January's -5.8; and the Conference Board's Leading Economic Index for January is forecast to gain 0.3%.

In corporate news, shares of Wal-Mart gained 1.3% in premarket trading after the blue-chip discount retailer reported earnings that topped analyst estimates, helping to offset a first-quarter earnings outlook that was below current analyst projections.

Among other Dow components, Hewlett-Packard declined 0.3%. The technology company reports fiscal first-quarter results after the closing bell.

European markets were broadly lower, with the Stoxx Europe 600 down 1.2%, on the back of disappointing economic data and worries that the Fed may soon start winding down its asset purchases. Markit's preliminary composite purchasing-managers' index for the euro zone fell to 47.3 in February from January's 48.6, and below expectations of 48.5. Readings below 50 indicate contraction. Within the euro zone, Italy's FTSE MIB skidded 2.6% to a two-month low and Germany's DAX slid 1.6%.

Write to Tomi Kilgore at tomi.kilgore@dowjones.com and Alexandra Scaggs at alexandra.scaggs@dowjones.com

React to this article
Latest news
Date Title
10:02p GNRALSTOREINTNPV : Lack of power didn't stop The General Store
09:39p MASSROOTS : Former Virginia Beach GOP campaign operative building country's largest marijuana social network
09:26p Shops2Apps Launches New Service to Transfer Sites and Stores into Native Mobile Apps
09:25p NRTH ST TELE'A' : Hundreds show for local goods at Redd Towne Market
09:24p MARRIOTT : Redding Record Searchlight, Calif., Buzz on the Street column
09:12p MGM RESORTS : Rival tribes united in pursuit of third casino
08:26p CHINA EASTERN AIRLINES : 20151128-OVERSEAS REGULATORY ANNOUNCEMENT-Announcement on Issuance of...
08:04p AMERICAN EXPRESS : Consumers come out to "Shop Small" during holiday weekend
07:59p BARCLAYS : named best private bank in Qatar for second time
07:59p EZDAN : plans to refurbish housing units
Latest news
Hot News 
OPPORTUNITY INVEST MGMT : 27 november 2015 - Announcement AGM on 22 december 2015
ATLANTIS RESOURCES : Tidal generating firm announces long partnership for investment by Gordon Calder
CYTOTOOLS : berichtet über Ergebnisse der europäischen klinischen Studie Phase III: Resultate der Behandlung des diabetischen Fußes mit DermaPro(R) bestätigen nicht die Ergebnisse der vorangegangenen Studien (DGAP News)
STOCK SPIRITS : Further Downgrades Earnings Guidance For 2015
IMAGINATION TECHNOLOGIES : Sir Hossein Yassaie receives 2015 Lifetime Achievement Award in annual Elektra European Electronics Industry Award...
Most Read News
06:20p SES TLMACE A S : Project of Three Boilers Denitrification in Žilina Successfully Finished
09:26p Shops2Apps Launches New Service to Transfer Sites and Stores into Native Mobile Apps
06:22p WAL MART STORES : Subdued local Black Friday crowd makes for enjoyable shopping experience
07:20p FAIRFAX MEDIA : Labor chides $600,000 contract for new part-time windfarm commissioner
06:04p PURE WAFER : RNS - Prescott Disposal
Most recommended articles
07:43p BoE's Vlieghe says 'relaxed' about waiting to hike rates
07:43p China's shadow banking risk shifts to booming bond market
06:58pDJFAA to Propose Safety Fixes for Certain Boeing and Embraer Jets
06:20p U.S. holiday sales data and forecasts
05:38p U.S. store sales down slightly for Thanksgiving and Black Friday