U.S. stock futures are down slightly, indicating that the Standard & Poor’s 500 Index is likely to remain near a one-week low. European sovereign-debt worries continue to be of concern, ameliorated somewhat by an upbeat reading on Chinese manufacturing activity. Investors also are waiting for results from Apple (NASDAQ: AAPL), AT&T (NYSE: T), United Parcel Service (NYSE: UPS) and many others.
Futures on the Dow Jones Industrial Average slipped 21 points, or almost 0.2%, while those for the Standard & Poor’s 500 index fell 3.9 points, or about 0.3%. Futures for the Nasdaq index declined 8 points, or 0.3%.
European stocks were lower in morning trading. Britain’s FTSE 100 ticked down 0.5% and the DAX in Germany slipped 0.4%, and France’s CAC 40 retreated 0.7%.
Most Asian stocks declined following a private survey that showed China’s manufacturing may contract at a slower pace this month and Moody’s cut the credit outlook for Germany, the Netherlands and Luxembourg. The Shanghai Composite ended up 0.2%, while Japan’s Nikkei fell 0.2%, and the Hang Seng in Hong Kong declined 0.8% in a session shortened by a typhoon warning.
UPS is expected to report quarterly earnings of $1.17 a share on $13.7 billion in revenue, according to a poll of analysts by Thomson Reuters. AT&T is forecast to report earnings of $0.63 cents a share and revenue of $31.7 billion. Apple is due to report quarterly results after the closing bell.
DuPont (NYSE: DD) shares edged lower in premarket trading after the company’s revenue fell short of consensus estimates. It said it expects full-year earnings to come in nearer the lower end of its outlook.
On the economic calendar this morning: manufacturing data for July and FHFA home prices for May.