Reply #3: U.S. Stock-Index Futures Retreat Amid Renewed European Union Debt Concerns

[Pale Blue Dot]

U.S. stock futures fell, signaling the Standard & Poor’s 500 Index may extend its two-week retreat, as Greece prepared to ask for an increased bailout amid renewed sovereign debt concerns in Europe.

Alcoa Inc. (AA), the largest U.S. aluminum producer, and ConocoPhillips, the nation’s third-biggest oil company, dropped in German trading as crude and metal prices declined. Goldman Sachs Group Inc. (GS) and Citigroup Inc. (C) led a retreat in banks.

S&P 500 futures expiring in June lost 0.5 percent to 1,327.6 at 10:49 a.m. in London. Dow Jones Industrial Average futures fell 0.5 percent to 12,501 and Nasdaq-100 Index futures slipped 0.2 percent 2,364.25.

“Markets are concerned by the loss of economic momentum and the resurgence of risk in the euro zone,” said Mike Lenhoff, chief strategist at Brewin Dolphin Securities Ltd. in London. “It is a market that has good fundamental support in the background, but what’s lacking right now is some stronger lead that will take the market upward.”

http://www.bloomberg.com/news/2011-05-13/u-s-stock-index-futures-climb-as-commodities-rebound-on-growth.html