U.S. Futures Lower On Weak Wal-Mart Same Store Sales

by: SA Editors

At 8:30 AM EDT:

U.S. Futures

S&P 500: -1.90; 1,382.90
NASDAQ: -1.50; 1,730.00
DOW: -22.00; 12,115.00

International Indexes

NIKKEI 225: -1.90%; 16,351.85 (-317.22)
HANG SENG: 0.00%; 18,297.55
S&P/ASX 200: +0.76%; 5,399.40 (+40.90)
BSE SENSEX 30: +0.91%; 13,024.26 (+117.45)

FTSE 100: -0.47%; 6,131.80 (-29.10)
CAC 40: -0.69%; 5,358.59 (-37.44)
XETRA-DAX: -0.25%; 6,246.88 (-15.66)

Commodity Futures (Reuters/Jefferies CRB)

Oil: -1.58%; $59.79 (-$0.96)
Gold: +0.67%; $605.00 (+$4.00)
Natural Gas: -3.39%; $7.56 (-$0.26)
Silver: +1.08%; $12.210 (+$0.13)

Asian Headlines (via Bloomberg.com)

Asian Stocks Drop, Led by Canon, on Concern U.S. Economic Growth to Slow Japanese stocks fell the most in almost three months, leading declines in Asia, after a U.S. government report showed growth in the world's largest economy slowed. Canon Inc. (NYSE:CAJ) and Samsung Electronics Co. led declines.

Rinker Says Cemex's Takeover Offer Is Hostile, Opportunistic and Too Low Rinker Group Ltd. (RIN), Australia's biggest building materials maker, said a hostile $11.7 billion takeover bid from Mexico's Cemex SA (NYSE:CX) is too low.

Aeon Sells $1.6 Billion of Stock to Help Pay for Daiei, Maruetsu Stakes Aeon Co., Japan's largest supermarket chain, sold 189.3 billion yen ($1.6 billion) of shares to raise funds for expansion.

Acom, Japan's Consumer Lenders Post $5.3 Billion of Losses on Provisions Aiful Corp., Japan's largest consumer lender by sales, along with two other non-bank firms posted a combined first-half loss of 621 billion yen ($5.3 billion), after making provisions for possible customer refunds in line with changes in accounting rules for the industry.

European Headlines (via Bloomberg.com)

Schneider to Buy American Power, Surge-Protector Maker, for $6.1 Billion Schneider Electric SA, the world's biggest supplier of circuit breakers, agreed to buy American Power Conversion Corp. for $6.1 billion to become the largest maker of equipment that protects computers and factories from power outages.

European Stocks Fall After ABN Amro, TNT Profit Reports; Cadbury Declines European stocks fell for a third day after ABN Amro Holding NV (ABN), the biggest Dutch bank, reported a drop in profit and earnings at express-delivery company TNT NV (TP) missed analysts' estimates.

ABN Amro Earnings Drop on Lending Provisions, Acquisition of Antonveneta ABN Amro Holding NV (ABN), the largest Dutch bank, said third-quarter profit declined 5.6 percent, hurt by higher provisions for risky loans and costs related to the acquisition of Banca Antonveneta SpA.

Catlin to Buy Wellington for $1.22 Billion, Form Largest Lloyd's Syndicate Catlin Group Ltd. agreed to buy Wellington Underwriting Plc for 591 million pounds ($1.22 billion) to create the biggest insurer on the Lloyd's of London market.

Cadbury Scraps Profit Target as Candy Sales Decline, Seeks Cost Reductions Cadbury Schweppes Plc, the maker of Dairy Milk chocolate, scrapped its profitability target because of higher raw material costs. The shares fell as much as 2.4 percent.

U.S. Headlines (via Bloomberg.com)

U.S. September Personal Spending Rises 0.1 Percent; Incomes Up 0.5 Percent">U.S. Sept. Personal Spending Rises 0.1%; Core Prices Up 0.2% Personal spending in the U.S. rose last month and Americans' incomes increased by the most in three months, suggesting the economy ended the third quarter on stronger footing, a government report showed.

U.S. Stock-Index Futures Fall; Wal-Mart Stores, Exelon Decline U.S. stock-index futures fell before reports that may show growth in U.S. consumer spending decreased and inflation is accelerating at a pace the Federal Reserve will consider a threat to the economy.

Sarbanes-Oxley Brings American Firms Record IPO Earnings, Dominance Abroad For all the hand-wringing over the Sarbanes-Oxley Act, the accounting and governance law driving companies away from U.S. stock exchanges, America's biggest securities firms are doing a record overseas business arranging initial public offerings.

Morgan Stanley (NYSE:MS) to Purchase Almost 20 Percent of Avenue Capital, People Say Morgan Stanley will acquire almost 20 percent of Avenue Capital Group, a hedge fund manager with $12 billion in assets that buys debt of ailing companies, three people with knowledge of the talks said.

Verizon Net Income Rises 2.8 Percent as Company Adds Wireless Subscribers Verizon Communications Inc. (NYSE:VZ), the second-largest U.S. telephone company, said third-quarter profit gained 2.8 percent as the company added wireless subscribers.

Dura Automotive Systems Files for Bankruptcy With Debts of $1.7 Billion Dura Automotive Systems Inc. (DRRA) filed for bankruptcy today, becoming the fifth major U.S. auto-parts company since February 2005 to seek protection from creditors.

Humana Profit More Than Triples on Medicare Prescription-Plan Enrollment Humana Inc. (NYSE:HUM), the second-largest provider of Medicare drug benefits, said profit rose because of higher prescription plan enrollment.