U.S. futures traded modestly lower Wednesday, following the trend in worldwide markets.
Dow Jones industrial average futures dipped 0.2 percent to 13,170. Standard & Poor's 500 futures slid 0.3 percent to 1,408.60, and Nasdaq 100 futures gave up 0.2 percent to 2,768.75.
In a quiet week, there are a few key points traders are watching. Data on sales of previously occupied homes for July will be released at 10 a.m. Eastern time. Economists expect the report to show that sales edged higher by about 3 percent from June, which had the slowest sales pace since October.
At 2 p.m. Eastern time, the Federal Reserve will release the minutes from its rate-setting Open Market Committee's last meeting. Investors will search the documents for hints of any upcoming moves to stimulate the economy.
European markets were lower, as European leaders meet with Greece, which has asked for more time to meet its debt reduction targets. The latest delay could set up a confrontation with Germany, which is growing impatient.
Britain's FTSE 100 index was down 1.2 percent. Germany's DAX dropped 0.9 percent, and France's CAC 40 slipped 0.9 percent.
Earlier, Asian markets all closed down after Japan posted a trade deficit for July, reversing a year-ago surplus and adding to signs of a global economic slowdown. Japan's Nikkei 225 index shed 0.3 percent, while South Korea's Kospi dropped 0.4 percent and mainland China's Shanghai Composite Index slid 0.5 percent. Benchmarks in Australia, Singapore, Taiwan, New Zealand, Thailand and the Philippines also fell
U.S. stocks to watch include Dell Inc., which posted weak PC sales and a disappointing forecast late Tuesday. Shares dropped 5.8 percent in premarket trading. Hewlett-Packard posts quarterly earings after the bell.
Williams-Sonoma Inc. shares jumped more than 9 percent in early trading, after the kitchen and home retailer reported a 10 percent profit jump.(AP:NEW YORK)
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Hello friends I repeat myself again:get rid of paper assets,hopefully some time is left.Commodities,maybe some small farm as a last retreat and hard money.Whatever is extremely risky and asking for adisaster.Martin
Do you expect more than a 4-5% correction on this downturn? If so, why now, and not until following the election?