US STOCKS-Wall St set to slide at open on worries over Portugal, Italy

jueves 10 de julio de 2014 09:05 GYT
 

* Portuguese, Italian markets slide, weigh on Europe

* Jobless claims better than expected, wholesale data due

* Lumber Liquidators tumbles after revised outlook

* Futures slide: Dow 181 pts, S&P 22 pts, Nasdaq 48 pts (Updates prices, adds data)

By Rodrigo Campos

NEW YORK, July 10 (Reuters) - U.S. stocks were poised to drop more than 1 percent at the open on Thursday, weighed by a slump in European shares on concern over the health of Portugal's top listed bank and following weak data from Italy.

* With U.S. stocks trading near record highs, the selloff in Europe could entice shorts who have been mostly shut out of the market. Many market participants have called for a pullback, with the steady S&P 500 yet to see a daily decline of 1 percent or more since April 10.

* Espirito Santo Financial Group, the largest shareholder in Portugal's Banco Espirito Santo, suspended trading in its shares and bonds, citing "material difficulties" at parent company ESI. Shares of the bank fell 17.2 percent.

* Italian industrial output dropped 1.2 percent in May, its steepest monthly fall since November 2012, casting doubt over prospects for the country's economic recovery.   Continuación...