US Stock Futures Down After Worse-Than-Expected Chinese Trade Data; Moody's Cut Spain's Government-Bond Rating

US stock futures are lower this morning, after the drop in Asian and European markets, due to worse-than-expected Chinese trade data. Futures on the Dow Jones Industrial Average dropped 52 points to 12,122.00 and futures on the S&P 500 stock index fell 7.50 points to 1,307.90. Nasdaq 100 futures dropped 15.25 points to 2,295.25.

The blue-chip Dow index dropped 0.01% to close at 12,213.09 on Wednesday.

Data on weekly jobless claims and the January trade balance will be released at 8:30 a.m. ET.

The Men's Wearhouse Inc MW reported its Q4 loss at $14.1 million, or $0.27 per share, versus a loss of $18.8 million, or $0.36 per share, in the year-earlier quarter. The company's adjusted loss came in at $0.19 per share. MW's revenue increased 18.6% to $542.1 million. However, analysts were expecting a loss of $0.19 per share on revenue of $537.4 million. The company's sales at stores open at least one year increased 4.3%. MW projected 2011 adjusted earnings between $1.75 and $1.85 per share, compared with analysts' estimates of $1.72 per share.

National Semiconductor Corporation NSM is estimated to post its Q3 earnings at $0.24 per share on revenue of $353.96 million. Pall Corp PLL is expected to post its Q2 earnings at $0.57 per share on revenue of $606.56 million. Aeropostale Inc ARO is projected to report its Q4 EPS at $0.97 on revenue of $836.58 million.

Buckle Inc BKE is expected to post its Q4 EPS at $1.00 on revenue of $301.62 million. Vail Resorts Inc MTN is projected to report its Q2 EPS at $1.38 on revenue of $373.04 million. Zumiez Inc ZUMZ is projected to report its Q4 earnings at $0.48 per share on revenue of $155.68 million. Jamba Inc JMBA is estimated to report a Q4 loss of $0.15 per share on revenue of $39.16 million.

China reported worse-than-expected trade data, as China's exports in February increased only 2.4% from a year ago period. The Reserve Bank of New Zealand lowered its key rate by 50 basis points.

Moody's Investors Service lowered Spain's government-bond rating from “Aa1” to “Aa2.”

Negative sentiment ruled the European markets today. While STOXX Europe 600 Index has dropped 0.68%, London's FTSE 100 Index moved down 1.02%.

Asian markets ended in the negative territory, with Japan's Nikkei Stock Average dropping 1.46%, Australia's S&P/ASX 200 moving down 1.48% and China's Shanghai Composite falling 1.51%. Hong Kong's Hang Seng Index declined 0.82% and India's Sensex lost 0.77%.

Crude oil futures dropped $0.24 to $104.14 a barrel in electronic trading on the New York Mercantile Exchange (NYMEX).

The US dollar gained versus its rivals, with the dollar index (DXY) rising 0.34% to 76.98. The euro declined 0.5% to $1.3841 against the greenback.

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