Stock Futures Mixed Ahead of Home Sales Data
NEW YORK (TheStreet) -- U.S. stock futures were pointing to a mixed start Friday as the markets awaited new-home sales data.
Futures for the Dow Jones Industrial Average were losing 30 points, or 5.1 points below fair value, at 12,971. Futures for the S&P 500 were off 2.3 points, or 0.6 points below fair value, at 1387, implying that the benchmark stock index could extend its steepest weekly decline since December. Futures for the Nasdaq were behind by 1.8 points, or 2.2 points above fair value, at 2730.
U.S. stocks fell Thursday after economic data stoked fears about Europe slipping into a recession and slowing growth in China.
"Although China appears to have avoided a hard landing, we do not expect it to revert back to the double-digit growth trend of the past decade," Barclays researchers said in a quarterly publication.At 10 a.m., the Census Bureau is expected to say that sales of new single-family homes in the U.S. rose to a 325,000 annual rate in February, up from a 321,000 rate previously and the highest level in more than a year. Looking abroad, London's FTSE on Friday was dipping 0.1% and Germany's DAX was falling 0.13% after the Nationwide Building Society said that consumer confidence in the U.K. fell in February amid increasing joblessness and feeble economic growth. In Asia, Japan's Nikkei Average closed down 1.14% and Hong Kong's Hang Seng index also finished in negative territory, down 1.11%.
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