Top > Business > 2006 > August > 2006-08-06

Futures Fall on World Markets Thursday

Stock futures fell on Thursday in the United States, indicating opening losses on Wall Street, with worries regarding July`s ISM non-manufacturing report that may later raise expectations of further interest rate increases. The stock market was also hit by crude oil prices that were above $75 a barrel, although it fell slightly. The market was also influenced by the news that a Middle East truce could be reached in the coming weeks.

By 9:55 a.m. Greenwich Mean Time, U.S. stock futures were down around 0.3 percent for the main indexes. European shares fell 0.6 percent ahead of an expected rise in euro zone interest rates while Japan`s Nikkei ended nearly flat. Dow Jones industrial average adds 0.67 percent or 74 points to 11,199.93. The news came as Ford Motor Corp released news that stated the company`s losses in the second quarter were hundreds of millions more than previously estimated.

The Nasdaq Composite gained 0.82 percent or 17 points to 2,078.81 on Wednesday, although Starbucks fell 9.6 percent after the closing bell as the world`s largest coffee shop chain reported disappointing sales in the past July. News agencies also reported that firms expecting to report quarterly earnings later in the day after press time were to include CVS Corp, Duke Energy Corp, Marsh & McLennan, Sprint Nextel Corp and Tyco International, Ltd.