Posted by
alfredlester on Tuesday, April 27, 2010 11:18:39 AM
Stock futures were lower Tuesday as Greek debt problems and China’s economy again have investors concerned about potential economic growth.
Domestically, investors will be looking for cues from the Federal Reserve, which begins a two-day, rate-setting meeting. Congress’s debate about overhauling financial regulations is also adding some volatility to the market.
European shares fell as concerns resurfaced that Greece might not have access to a bailout package in time to make a new round of payments that are due on May 19. The dollar rose against the euro as investors worry that debt problems in Greece and some of the 15 other countries that use the currency will upend an economic rebound on the continent.
Most Asian markets fell as Chinese regulators are again preparing to try and cool down the country’s robust economic growth. The government has been trying to slow the real estate market there to avoid speculative bubbles.
In the United States, investors will be closely watching the Fed over the next two days for any signs of when it might raise interest rates low fee pay day loans.
Ahead of the opening bell, Dow Jones industrial average futures fell 30 points, or 0.3 percent, to 11,121. Standard & Poor’s 500-stock index futures and the Nasdaq 100 index futures were down 0.4 percent.
Two economic reports due out later in the morning could also affect trading. Investors will get reports on home prices and consumer confidence.
Economists polled by Thomson Reuters predict the S&P/Case-Shiller home price index for February rose 1.2 percent.
A recovery in prices and sales is considered necessary to helping revive the economy.
A separate report due out on consumer confidence is expected to show consumers are gaining more confidence in the economy. The Conference Board’s index likely rose to 53.5 this month from 52.5 in March.
Stock Futures Fall Amid Worries Over Greece