US STOCKS-Futures turn lower as global growth concerns weigh
By Ryan Vlastelica
NEW YORK Oct 9 (Reuters) - U.S. stock index futures fell on Thursday, erasing earlier gains, as concerns about global growth spurred investors to take profit after a massive gain in the previous session.
In the latest negative data point from Europe, German exports dropped by 5.8 percent in August, their biggest fall since the height of the global financial crisis in January 2009. The data was the latest indication that Europe's largest economy was faltering amid broader weakness in the euro zone.
Earlier this week, markets were pressured by weak reads on German industrial output and industrial orders. Separately, data showed growth in the Chinese services sector weakened slightly in September.
Futures had been higher for much of the premarket session as investors took heart from assurances that the Federal Reserve wouldn't raise interest rates before it deemed the economy could withstand it, and by positive early reads in the earnings season.
Futures snapshot at 0811 EDT:
* S&P 500 e-minis were down 7.25 points, or 0.37 percent, with 339,016 contracts changing hands.
* Nasdaq 100 e-minis were down 13 points, or 0.32 percent, in volume of 45,387 contracts.
* Dow e-minis were down 73 points, or 0.43 percent, with 45,553 contracts changing hands. (Editing by Bernadette Baum)
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