US Stock Futures Pare Gains on Lackluster Data from China, Eurozone
US stock futures are lower Thursday morning as lackluster data from China and Eurozone enhanced the worries about the stalling of the global economic growth. The futures for the Dow Jones Industrial Average dropped 35 points to 13,462 and S&P500 Futures fell 4.29 points to 1449. The futures for Nasdaq were down nearly 7 points at 2847. The HSBC Flash China manufacturing purchasing managers' index showed that manufacturing continued to decline for the 11th straight month in September. The headline reading for China rose to 47.8 in September from 47.6 in August. The figures was, however, below the 50 mark between contraction and expansion The Eurozone Composite PMI relating to both manufacturing and services sectors declined to 45.9 in September from 46.3 in August, the lowest level since June 2009, according to Markit Economics. Meanwhile, the Spanish Treasury was able to sell €4.8 billion of its three and ten year bonds amid strong investor demand. Amongst European indices, the FTSE in London was lower by 0.60% and DAX in Germany was down 0.46%. The Hang Seng Index of Hong Kong closed lower by 1.20% while Japan's Nikkei declined by 1.57% on Thursday. The November crude oil futures dropped 73 cents to $91.57 a barrel while December gold futures declined by $11.10 at $1760.60
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