Investing.com - U.S. stock futures edged lower on Thursday, as concerns over a delay for a second Greek bailout deal and the threat of further downgrades for European banks weighed on sentiment.
Ahead of the open, the Dow Jones Industrial Average futures pointed to a fall of 0.20%, S&P 500 futures signaled a 0.34% decline, while the Nasdaq 100 futures indicated a 0.08% loss.
Investor confidence weakened on reports that European Union officials are considering a delay to all or part of Greece's second bailout package until after a general election, which is expected to take place in April.
Officials are examining the possibility of extending a bridging loan to Athens, which would allow Greece to meet EUR14.4 billion in repayments which come due on March 20.
Sentiment was also hit after ratings agency Moody's warned that it may cut the credit ratings of 17 global and 114 European financial institutions, in another sign the impact of the euro zone debt crisis is spreading.
Financial stocks were set to be active following the news, as Morgan Stanley, Goldman Sachs and Bank of America were cited by the ratings agency. Goldman Sachs and Bank of America saw shares decline 0.19% and 2.06% respectively in pre-market trade.
In the technology sector, NetApp reported results in line with expectations, sending shares up nearly 8% in after-hour trade after disappointing results in past quarters.
Meanwhile, Google shares were expected to be active as the Chinese Commerce Ministry is reviewing the company’s USD12.5 billion purchase of Motorola Mobility Holdings.
CBS Corp shares fell 0.24% in after hour trade, although it beat profit forecasts on Wednesday and predicted a record-breaking 2012, driven by an improving U.S. economy, higher fees from pay-TV distributors and strong political advertising revenue in a contentious election season.
Also in earnings, AMR Corp, the parent company of American Airlines, posted a fourth-quarter loss on non-cash charges and reorganization items. The company, which filed for Chapter 11 creditor protection on November 29, posted a net loss of USD1.1 billion for the fourth quarter, compared with a loss of USD97 million a year ago.
Other stocks in focus included Duke Energy, Applied Materials and Agilent Technologies, due to report results later in the day.
Across the Atlantic, European stock markets were sharply lower. The EURO STOXX 50 tumbled 0.86%, France’s CAC 40 retreated 0.40%, Germany's DAX declined 0.87%, while Britain's FTSE 100 dropped 0.63%.
During the Asian trading session, Hong Kong's Hang Seng Index fell 0.6%, while Japan’s Nikkei 225 Index shed 0.24%.
Later in the day, the U.S. was to publish official data on building permits and on housing starts, as well as reports on producer price inflation and unemployment claims. Federal Reserve Chairman Ben Bernanke was also due to speak.
Ahead of the open, the Dow Jones Industrial Average futures pointed to a fall of 0.20%, S&P 500 futures signaled a 0.34% decline, while the Nasdaq 100 futures indicated a 0.08% loss.
Investor confidence weakened on reports that European Union officials are considering a delay to all or part of Greece's second bailout package until after a general election, which is expected to take place in April.
Officials are examining the possibility of extending a bridging loan to Athens, which would allow Greece to meet EUR14.4 billion in repayments which come due on March 20.
Sentiment was also hit after ratings agency Moody's warned that it may cut the credit ratings of 17 global and 114 European financial institutions, in another sign the impact of the euro zone debt crisis is spreading.
Financial stocks were set to be active following the news, as Morgan Stanley, Goldman Sachs and Bank of America were cited by the ratings agency. Goldman Sachs and Bank of America saw shares decline 0.19% and 2.06% respectively in pre-market trade.
In the technology sector, NetApp reported results in line with expectations, sending shares up nearly 8% in after-hour trade after disappointing results in past quarters.
Meanwhile, Google shares were expected to be active as the Chinese Commerce Ministry is reviewing the company’s USD12.5 billion purchase of Motorola Mobility Holdings.
CBS Corp shares fell 0.24% in after hour trade, although it beat profit forecasts on Wednesday and predicted a record-breaking 2012, driven by an improving U.S. economy, higher fees from pay-TV distributors and strong political advertising revenue in a contentious election season.
Also in earnings, AMR Corp, the parent company of American Airlines, posted a fourth-quarter loss on non-cash charges and reorganization items. The company, which filed for Chapter 11 creditor protection on November 29, posted a net loss of USD1.1 billion for the fourth quarter, compared with a loss of USD97 million a year ago.
Other stocks in focus included Duke Energy, Applied Materials and Agilent Technologies, due to report results later in the day.
Across the Atlantic, European stock markets were sharply lower. The EURO STOXX 50 tumbled 0.86%, France’s CAC 40 retreated 0.40%, Germany's DAX declined 0.87%, while Britain's FTSE 100 dropped 0.63%.
During the Asian trading session, Hong Kong's Hang Seng Index fell 0.6%, while Japan’s Nikkei 225 Index shed 0.24%.
Later in the day, the U.S. was to publish official data on building permits and on housing starts, as well as reports on producer price inflation and unemployment claims. Federal Reserve Chairman Ben Bernanke was also due to speak.