Thursday, September 23, 2010

Stock Futures Lower on Weak Europe Data

from Fox Business:

U.S. markets were looking at a negative open to Thursday trading following a disappointing European economic output report dragged both European and U.S. equities lower.
As of 6:35 a.m. in New York, the Dow Jones Industrial Average futures lost 40 points, or 0.36%, to 10633, the S&P 500 index futures were down 5.8 points to 1124.00 and the Nasdaq 100 futures fell 5.5 points to 1974.00.
The European purchasing managers survey dropped to a reading of 53.8 in September, the firm Markit said Thursday, compared with the reading of 56.2 that was reported in August. While the report still shows some expansion in economic activity - a reading of 50 is neutral - traders expressed concerns that Europe could be next to suffer from the stalled recovery that's hindered the United States.
The major European indices were down between 0.7% and 1% across the continent.