US Stock Futures Point To Weaker Start For Wall Street

The movement of US stock futures point to a weaker start for Wall Street while investors await the December retailer sales results. The S&P 500 futures, Dow Jones industrial average and the NASDAQ 100 slipped 0.4%-0.5%.

While the Dow Jones Industrial Average futures fell 42 points to 10474, futures for the Nasdaq 100 fell 7.25 points to 1871.21. Meanwhile, S&P 500 futures have slipped 5.4 points to 1127.70.

The markets are also awaiting the release of first-time claims numbers for jobless benefits for the week ending January 2 from the Labor Department. According to a Reuters survey, new filings may rise to 447,000 as compared to a 432,000 rise in the prior week. Meanwhile, a top official of the Federal Reserve, James Bullard, commented on the improvement in the labor market in the US and indicated that the unemployment rate will start to fall soon.

The US stock markets may also take a cue from the overseas markets, which have been weak today. While Japan's Nikkei stock average lost 0.5%, European shares slipped from yesterday’s 15-month closing high, with investors awaiting the monthly interest rate decision from the Bank of England.