Reply #8: U.S. stock futures point down; retail sales mixed

[UpInArms]

http://today.reuters.com/investing/financeArticle.aspx?type=bondsNews&storyID=2005-08-04T130135Z_01_N04590027_RTRIDST_0_MARKETS-STOCKS-UPDATE-2.XML

NEW YORK, Aug 4 (Reuters) - U.S. stock futures suggested a weaker market open on Thursday as investors held off on taking positions before Friday's non-farm payrolls report and as retailers reported mixed sales results for July.

Several clothing retailers including Federated Department Stores Inc. (FD.N: Quote, Profile, Research), AnnTaylor Stores Corp. (ANN.N: Quote, Profile, Research) and May Department Stores Co. (MAY.N: Quote, Profile, Research), posted a decline in same-store sales.

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"This may be a day where institutional investors will book some profit and step back in light of the payroll report," said Jon Brorson, managing director of growth equities at Neuberger Berman in Chicago. "It looked like Wal-Mart sales were OK, but you've got to keep feeding the beast, and unless it's a blow-out, you've got to sit back a bit."

S&P 500 futures were down 3.6 points, below fair value, a model evaluating pricing by accounting for interest rates, dividends and time to expiration on the contract.

Dow Jones industrial average futures were down 35 points, below fair value, while Nasdaq 100 futures slipped 6.5 points, below fair value.

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