Member access

4-Traders Homepage  >  News

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
Recommend:
0

--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

Recommend :
0
React to this article
Latest news
Date Title
<1m ago SPIRE HEALTHCARE : To Work With CMA To Implement Final Orders
1m ago GULFMARK OFFSHORE : Entry into a Material Definitive Agreement, Termination of a Material Definitive Agreement, Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant, Financial Statements and Exhibits (form 8-K)
1m ago SHIRE : Form 8.3 -
1m ago RESEARCH AND MARKETS : The Worldwide IC Packaging Market - 2014-2018
1m ago Bank of England backs flagship government mortgage guarantee scheme
2m ago TransCanada adds 3 Ontario solar plants to its power generation holdings
2m ago LONDON STOCK EXCHANGE : Magnetar Financial (UK) LLP - Form 8.3 - AbbVie Inc
2m ago SHIRE : Magnetar Financial (UK) LLP - Form 8.3 - Shire Plc
2m ago MIT SLOAN : to Host Conference on Digital Experimentation
3m ago POSTMEDIA NETWORK CANADA : Notice of Investors’ Teleconference
Latest news
Advertisement
Hot News 
XAAR : To Slash Costs As It Lowers Revenue Guidance On China Weakness
BEOWULF MINING : To Contend Swedish Mine Ruling In Favour Of Reindeer
REALD : Comments on Unsolicited Non-Binding Indication of Interest from Starboard
ORDINA : investigates Zembla claims: initial findings reveals no irregularities
CREE : Announces Preliminary Financial Results for the First Quarter of Fiscal 2015
Most Read News
10h ago TESLA MOTORS : Musk says 'about time to unveil the D and something else'
1d ago JANUS CAPITAL : Pimco Total Return Fund posts record $23.5 billion net outflow in September
1d ago JPMORGAN CHASE : to Present at the Bank of America Merrill Lynch Banking & Financial Services Conference
1d ago TOTAL SYSTEM SERVICES : Pimco Total Return Fund posts record $23.5 billion net outflow in September
1d ago CANADIAN PACIFIC RAILWAY : CP Rail looks to boost revenue to C$10 billion in 2018
Most recommended articles
1m ago Bank of England backs flagship government mortgage guarantee scheme
4m ago Bank of England deputy governor says still too early to raise rates - ITV
7m ago Wonga sees no impact from UK crackdown on South Africa business
12m agoDJJobless Rate Expected to Hold at 6.1% -- Data Week Ahead
13m agoDJXaar Shares Plummet as Company Cuts Revenue Forecasts for Second Time
Dynamic quotes  
ON
| OFF