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U.S. Futures Point to Lower Open (Smart Money)
By William L. Watts U.S. stock-index futures traded slightly lower Thursday,
giving up early gains after a steeper-than-expected drop in a gauge of euro-
zone business confidence as investors prepare for a flood of earnings and the
latest tally of weekly jobless claims. More than three hours before the start
of trading, futures on the Dow Jones Industrial Average fell 19 points to
13021. S&P 500 Index futures lost 1.7 points to 1385.5, while Nasdaq-100
futures declined 4.5 points to 2700. Changes in futures don't always
accurately predict early market moves after the opening bell.European equities
turned lower after the European Commission's gauge of economic confidence
across the 17-nation euro zone fell to its lowest level since December. The
Stoxx Europe 600 Index declined 0.4%. The data put a damper on the positive
tone fostered earlier this week by Apple's consensus-topping results, which
put the focus back on what has been an upbeat earnings season, strategists
said. Meanwhile, U.S. Federal Reserve Chairman Ben Bernanke's remarks on
Wednesday following the conclusion of the two-day meeting of the Fed's rate-
setting Open Market Committee, were seen providing some modest support to
European and Asian markets. Mr. Bernanke, in ...