U.S. stock-index futures fell amid concern among some investors that share prices may already reflect the outlook for economic and profit growth. Caterpillar Inc., last week's biggest gainer in the Dow Jones Industrial Average, declined in Europe.
September Standard & Poor's 500 Index futures dropped 2.7 to 987.8 as of 10:30 a.m. in London. Dow futures slid 25 to 9130 and Nasdaq-100 Index futures lost 1 to 1257.5.
The S&P 500 last week slipped for the first week in three as forecasts from companies such as International Business Machines Corp. raised concern that second-half profit growth won't justify a four-month rally. The benchmark has surged 24 percent since touching a low for the year on March 11.
``We still don't have a heck of a lot of tangible evidence that second-half economic improvement is for real,'' said David Joy, chairman of the capital markets committee at American Express Financial Advisors, which manages $225 billion.
Merck & Co. and 3M Co. are among companies reporting earnings before the start of trading today. Texas Instruments Inc. and Cendant Corp. release results after U.S. exchanges close.
Caterpillar, the world's largest maker of earthmoving equipment, lost 61 cents to $65 in Germany. The company last week said second-quarter earnings doubled and full-year profit will be more than forecast because of higher sales, pricing and currency- related gains. The shares climbed 14 percent last week.
Avaya Inc., the biggest U.S. maker of office-telephone equipment, dropped 20 cents to $6.65 in Germany. The company said it may sell as much as $1 billion in securities to raise cash for general corporate purposes.
The Conference Board's index of leading economic indicators may have increased for a third straight month in June, economists said before a report from the New York-based research group due at 10 a.m. local time today.
The gauge of how the economy will perform over the next three to six months may have risen 0.1 percent, based on the median forecast of 41 economists surveyed by Bloomberg News.
September Standard & Poor's 500 Index futures dropped 2.7 to 987.8 as of 10:30 a.m. in London. Dow futures slid 25 to 9130 and Nasdaq-100 Index futures lost 1 to 1257.5.
The S&P 500 last week slipped for the first week in three as forecasts from companies such as International Business Machines Corp. raised concern that second-half profit growth won't justify a four-month rally. The benchmark has surged 24 percent since touching a low for the year on March 11.
``We still don't have a heck of a lot of tangible evidence that second-half economic improvement is for real,'' said David Joy, chairman of the capital markets committee at American Express Financial Advisors, which manages $225 billion.
Merck & Co. and 3M Co. are among companies reporting earnings before the start of trading today. Texas Instruments Inc. and Cendant Corp. release results after U.S. exchanges close.
Caterpillar, the world's largest maker of earthmoving equipment, lost 61 cents to $65 in Germany. The company last week said second-quarter earnings doubled and full-year profit will be more than forecast because of higher sales, pricing and currency- related gains. The shares climbed 14 percent last week.
Avaya Inc., the biggest U.S. maker of office-telephone equipment, dropped 20 cents to $6.65 in Germany. The company said it may sell as much as $1 billion in securities to raise cash for general corporate purposes.
The Conference Board's index of leading economic indicators may have increased for a third straight month in June, economists said before a report from the New York-based research group due at 10 a.m. local time today.
The gauge of how the economy will perform over the next three to six months may have risen 0.1 percent, based on the median forecast of 41 economists surveyed by Bloomberg News.
3287.99
1275.09
