US Stock Futures Point To Continued Weakness In Market

US stock index futures fell today, indicating a continued downturn in the Standard & Poor’s 500 Index. The Standard & Poor’s 500 index is going through the biggest drop in six weeks, as speculations of a possible default by Greece are heightening.

Ahead of the opening bell, futures on the Dow Jones Industrial Average slipped 44, or 0.4%, to 10,805, while those on Standard & Poor's 500 index fell 5.20, or 0.4%, to 1,173.80. Meanwhile, Nasdaq 100 index futures lost 6.25, or 0.4%, to 1,968.75.

Reports on initial jobless claims and monthly retail sales could send the market back on its upward trajectory. London-based Henk Potts at Barclays Stockbrokers Ltd said, “Sentiment remains fragile about the macro environment and the potential for further disruption to the global financial system.”

Stocks that could be in focus today are Alcoa Inc (NYSE: AA) and Newmont Mining Corp (NYSE: NEM), both of which have declined in German trading as base metals retreated in London. Meanwhile, Forest Laboratories Inc (NYSE: FRX) has slipped 9.3% after the drugmaker could not win the backing to sell its new lung treatment. On the other hand, US Airways Group Inc (NYSE: LCC) soared 20% on rumors of the carrier being in merger talks with United Airlines of UAL Corp (NASDAQ: UAUA).

Regarding the overseas markets, Japan's Nikkei stock average closed 1.1% lower. Meanwhile, Britain's FTSE 100 and Germany's DAX index are down 1% each.

Read more from Benzinga's Markets.