US Stock Futures Point To Bleak Markets Today

After a day of mayhem in the US stock markets, stock futures weakened further on worries related to Europe's national debts. While futures on the S&P 500 fell 7.8 points to 1088.60, those on Nasdaq 100 slipped 9.5 points to 1776.00. Meanwhile, Dow Jones Industrial Average futures lost 63 points.

Investors today are awaiting data from the Labor Department on first-time claims for jobless benefits for the week ended January 30. Economists have forecasted a total of 460,000 new filings as compared to 470,000 reported a week earlier. These figures may prove to be a precursor to the key monthly non-farm payrolls data to be released on Friday. Meanwhile, the Commerce Department would be releasing December factory orders and analysts expect a 0.5% upturn, as compared to a 0.6% gain in the prior month.

Retailers will be reporting their January same-store sales today. Analysts forecast a 2.4% gain.

Across the world, the Nikkei 225 fell 0.5% in Tokyo, pulled down by Toyota Motor Corp (NYSE: TM) and Sharp Corp, which reported weak results.

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