Stock index futures fall; economic data eyed
Stock index futures pointed to a lower open for Wall Street on Thursday, with futures for the Dow Jones down 0.2 percent, for the S&P 500 down 0.3 percent and for the Nasdaq down 0.4 percent by 0906 GMT.
* Jitters over the global economy recovery were fueled by data showing the pace of Chinese manufacturing growth slowed in June as the government took steps to cool the property market and curb bank lending.
* Japan's Nikkei average fell 2 percent, while European shares were down 1.5 percent in morning trade, sliding below a key support level and retreating for the seventh time in eight sessions, hit by the tepid Chinese macro data.
* Spanish stocks were particularly under pressure. Spain said it sold 3.5 billion euros of five-year bonds, at the top end of the Treasury's target amount but with demand below the last auction on May 6 after Moody's placed Spain on review for a potential downgrade on Wednesday.
* Investors awaited U.S. weekly jobless claims, due at 1230 GMT, U.S. pending home sales for May, due at 1400 GMT, as well as the Institute for Supply Management's June manufacturing index, due at 1400 GMT. Economists in a Reuters survey expected a reading of 59.0 versus 59.7 in May. U.S. auto sales figures for June were also due on Thursday.
* On Wednesday, the S&P 500 <.SPX> fell below the key 1,040 level it had held since February, breaking out to the downside from what chartists called a very bearish 'head and shoulders' trend reversal pattern, pointing to a major retreat in coming months.
* Yahoo shares gained 1.2 percent in extended trade on Wednesday after the internet company said it had authorized a new $3 billion share buyback plan.
* Shares in General Mills Inc fell 2.2 percent in extended trading on Tuesday after the company reported fourth-quarter results.
* Constellation Brands was due to report first quarter earnings on Thursday.
* Hurricane Alex is slowing clean-up and oil containment efforts at the site of BP's Gulf of Mexico oil spill even as a potential permanent fix for the leak remains weeks away.
* World Trade Organization judges gave the European Union a stinging rebuke on Wednesday, saying the EU must axe prohibited export subsidies to planemaker Airbus which had injured U.S. rival Boeing .
(Reporting by Harpreet Bhal; Editing by Dan Lalor)
© Copyright Thomson Reuters 2024. All rights reserved.