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| Reuters |
Fox Business
September 30, 2011
Disappointing economic reports from across the world, combined with lingering skittishness over the euro zone debt crisis, sent stock-index futures sliding ahead of several more releases on the U.S. economy.
Today's Markets
As of 9:04 a.m. ET, Dow Jones Industrial Average futures dropped 144 points to 10,955, S&P 500 futures dipped 16.5 points to 1,140 and Nadsaq 100 fell 26 points to 2,164.
After a round of relatively upbeat data from the U.S. on Thursday, several major global economic releases came as a disappointment to Wall Street.
Personal income fell 0.1% in August, the first decline since October 2009, and weaker than the 0.1% gain economists anticipated. Consumer spending was up 0.1% for the month, which was in line with expectations.
Meanwhile, the final reading of the Reuters/University of Michigan consumer sentiment index is anticipated to show consumers' view of the economy remained unchanged at the end of September.
Consumption is a key component in economic expansion, and can have an impact on many sectors. In particular, retailers like Target (TGT) can be affected by these data, especially with just months to go before the key holiday buying season this winter.
The Chinese manufacturing sector contracted for a third-straight month in September, adding to worries that the world's second-largest economy may be slowing down.
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