Bloomberg News

U.S. Stock Futures Pare Drop After Falling on Economic Concerns

February 22, 2012

Feb. 22 (Bloomberg) -- U.S. stock futures pared losses, leaving futures on the Standard & Poor’s 500 Index little changed after dropping earlier as reports from Europe and China fueled concern about the global economy.

Futures on the S&P 500 expiring in March were down less than 0.1 percent at 1,359.50 at 7:51 a.m. in New York after slipping as much as 0.3 percent earlier.

Earlier losses in stock futures were triggered after a purchasing-managers index of euro-area services and manufacturing dropped to 49.7, London-based Markit Economics said, below the 50.5 forecast by economists in a Bloomberg survey. China’s manufacturing may shrink for a fourth month, according to data from HSBC Holdings Plc and Markit. U.S. sales of previously owned homes probably rose last month to the highest level since May 2010, analysts said before a National Association of Realtors report today.

To contact the editor responsible for this story: Michael P. Regan at mregan12@bloomberg.net


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