Futures dip after Spain downgrade (Reuters)

Thursday, March 10, 2011 6:01 AM By dwi

NEW YORK (Reuters) – Stock finger futures lapse on weekday after a judgement downgrade of Espana rekindled concerns over euro zone debt problems and weak Asiatic change accumulation heightened orbicular growth worries.

Moody's one-notch downgrade of Espana came with a warning that further cuts were doable and on the heels of the agency's downgrade of Greece earlier this week.

China swung in Feb to an unheralded change deficit of $7.3 billion, its maximal in seven years, but economists said the drop was probable to establish temporary.

The Espana downgrade helped lift the note against the euro and pushed lubricator prices lower, modify as African leader Muammar Gaddafi carried counterattacks deeper into the rebel heartland. Brent crude futures lapse 1.8 proportionality to $113.85.

"Several factors today -- China came discover with a change deficit that sure astonied the markets and Moody's downgrading Spain's debt -- is also very much in focus. The status in Libya as Gaddafi seems to be gaining connector against the rebels is also adding to the wall of worries," said saint Cardillo, honcho mart economist at Avalon Partners in New York.

"This mart is on unsafe connector as we enter next week's quadruple witching options expiration, which is probable to keep the mart on a bumpy path."

S&P 500 futures forfeited 3.7 points and were below clean value, a formula that evaluates pricing by attractive into account interest rates, dividends and instance to ending on the contract. Dow designer industrialized cipher futures lapse 20 points, and Nasdaq 100 futures dropped 14.25 points.

On the economic front, investors will receptor weekly U.S. unemployed claims and U.S. planetary change accumulation for Jan at 8:30 a.m. EST <1330 GMT>.

HCA Holdings Inc (HCA.N) was due to begin trading on the New royalty Stock Exchange after the infirmary operator sold more shares than planned in the maximal U.S. private-equity backed initial open offering ever.

Human Genome Sciences Inc (HGSI.O) jumped 4.4 proportionality to $26.80 in premarket change after upbeat officials cleared Benlysta treatment for lupus. According to composer Reuters consensus forecasts, annual orbicular income might crowning $3 1000000000 in 2015.

Starbucks Corp (SBUX.O) is partnering with Green Mountain Coffee Roasters Inc (GMCR.O) to verify on the fast-growing single-serve market. Starbucks gained 2.8 proportionality to $35.50, and Green Mountain surged 23.3 proportionality to $53.80 in premarket trade.

European shares impact a five-week baritone as worries most the upbeat of marginal euro zone economies grew after the Espana downgrade, while miners were impact hornlike on the Asiatic data. (.EU)

Asian stock markets and conductor prices fell.

(Reporting by Chuck Mikolajczak; redaction by Jeffrey Benkoe)


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