US STOCKS-Wall St to slip at open on global growth worries

jueves 20 de noviembre de 2014 10:05 GYT

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By Rodrigo Campos

NEW YORK, Nov 20 (Reuters) - U.S. stocks were set to open lower on Thursday amid concerns over global growth following weak business data out of the euro zone and a loss of momentum in Chinese factories.

Euro zone business is growing at a slower pace than any forecaster expected this month and new orders have fallen for the first time in more than a year, while output in China's factory sector contracted for the first time in six months.

Futures are "basically following European markets lower," said Peter Cardillo, chief market economist at Rockwell Global Capital in New York.

"This type of action continues to suggest the market is consolidating and taking somewhat of a breather before heading higher towards year-end," said Cardillo.

S&P 500 e-mini futures were down 10 points and fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract, indicated a lower open. Dow Jones industrial average e-mini futures fell 85 points and Nasdaq 100 e-mini futures lost 19 points.   Continuación...