11-13-13 6:11 AM EST | Email Article

By Barbara Kollmeyer, MarketWatch


MADRID (MarketWatch) -- U.S. stock futures edged lower on Wednesday, taking a cue from losses in the prior session that halted a two-day winning streak for major indices. Weighing on sentiment was a fall for global stocks, with China hit hard after the country's leaders failed to provide clear policy direction.


The Federal Budget is expected later, and earnings from Macy's Inc. are also due ahead of the bell.


Futures for the Dow Jones Industrial Average (DJZ3) fell 23 points, or 0.2%, to 15,687, while those for the Standard & Poor's 500 index (SPZ3) slipped 2.6 points to 1,762.50. Futures for the Nasdaq 100 (NDZ3) fell 7 points, or 0.2%, to 3,357.50.


The economic calendar is light for the U.S., with the Federal Budget for October scheduled for release at 2 p.m. Eastern Time.


Caution is building somewhat among investors ahead of Senate confirmation hearings on Thursday with Janet Yellen, nominated to chair the Federal Reserve. Wall Street stocks closed lower on Tuesday, breaking a two-day run for both the Dow industrials (DJI) and the S&P 500 index (SPX) after some Fed officials delivered fresh warnings about potential reductions in stimulus. Read: S&P 500 hesitates at major resistance


Sentiment was dulled across the board on Wednesday by weakness in global stocks. Chinese stocks in particular fell as the market got its first chance to react to Tuesday's conclusion of the Third Plenum, a four-day meeting that sets the course for the Chinese economy for the next 10 years. A sweeping reform plan, sparse on details, left investors disappointed. Read: China's reform announcement: Five key takeaways


"The failure of the Chinese leaders to address steps to curb the state dominance of the economy and vagueness over financial reform has investors spooked," said Alex Conroy, financial sales trader at Spreadex, who said Asian markets had been positioning for the Plenum to more clearly address slowing growth and deliver a plan to ease government support, amid fears of a credit crunch for the country.


"The disappointing results of the Plenum are likely to cause volatility for the coming week as investors reverse previous positions," said Conroy in a note to investors.


fell more than 1% at one point, and that sentiment carried over into Europe. In addition, U.K. stocks fell and the British pound jumped after the Bank of England's November Inflation Report was released, and official data showed unemployment in the country hitting its lowest level in more than 4 years.


Among corporates, Macy's (M) is projected to report third-quarter earnings of 39 cents a share when it announces quarterly results, according to analysts surveyed by FactSet.


Shares of Potbelly Corp. (PBPB) could tack on further gains in premarket, after a late-session surge Tuesday as the sandwich chain reported results that beat Wall Street expectations.

-Barbara Kollmeyer; 415-439-6400; AskNewswires@dowjones.com


Subscribe to WSJ: http://online.wsj.com?mod=djnwires

(END) Dow Jones Newswires

11-13-13 0611ET

Copyright (c) 2013 Dow Jones & Company, Inc.
Copyright 2014 MarketWatch
Add a Comment

News   More...

Start Premium Trial Register For Free

P F Fund Financial Data (13,000+ funds)
P F Stock Financial Data (7,000+ stocks)
P F Stock and Fund Screeners (basic)
P F Investing Articles and Market Commentary
P F Articles Archive (>30 days)
P F Discuss (dozens of stock, fund, bond, and general bulletin boards)
P F Portfolio Manager (basic)
P F Morningstar Investment Classroom
P F Access Your Portfolio Anytime, Anywhere via Your Mobile Device
P   Morningstar Fund Analyst Reports (full research on 1,700 funds, ETFs, and CEFs)
P   Morningstar Stock Analyst Reports (full research on more than 1,100 stocks)
P   Portfolio Manager (advanced with 10 X-Ray analyses, including recommendations)
P   Portfolio Monitor (monthly and on-demand personalized portfolio statements)
P   Morningstar Proprietary Stock Information (stock star ratings, buy/sell prices, economic moat ratings, and more)
P   Morningstar 5-Star Stock and Fund Favorites & Red Flags eNewsletters
P   Premium Stock and Fund Screeners (advanced with nearly infinite ways to find the best securities for you)
P   Discounts on Morningstar newsletters, books, seminars, and more

Sign-up to Morningstar

Basic Access

Articles and Videos
Morningstar video reports, articles, data, and tools. Dig into our lineup of e-newsletters and investing classroom courses outlining sensible strategies for maximizing your investments.
Morningstar Discuss
Follow the buzz on individual stocks or fund families. Plus, read the latest posts from Morningstar members and analysts.
Portfolio Manager
Track your investments and watch lists with our Portfolio Manager. Customize your view with our comprehensive stock, fund, and ETF data.

Access these features and more when you sign up for Free Membership.
Join Morningstar today. It's Free.

Unlimited Access

Analyst Research
Gather in-depth, actionable insight on over 3,700 stock and mutual funds covered by Morningstar analysts. View our mutual fund Analyst Reports favored by professionals, savvy experienced investors, and new investors researching options for retirement savings, college plans, or other investment needs.
Portfolio X-Ray®
Ensure your portfolio is positioned exactly how you want with Morningstar's X-Ray Interpreter and Stock Intersection tools. A Barron's "Best of the Web" award winner for five years running, X-Ray Interpreter goes under the hood of your portfolio to provide a useful allocation, sector, and geographic analysis. And you can discover how much of a stock you really own, individually and through mutual funds, with Stock Intersection.
Investment Picks
Find new 5-star stocks (greatly undervalued companies) to consider daily. Our 5-star stock rating is a proven winner, consistently beating benchmarks like the S&P 500. Plus, browse our Fund Analyst Picks and Stewardship Grades to find shareholder-friendly mutual funds that are poised for outperformance.
Portfolio Monitor
Get a clear view of your investments with personalized reports about your portfolio. Receive monthly statements and generate reports on-demand to help you stay on track to meet your investment goals.

Access these features and more when you sign up for Premium Membership.
Start your free 14-day trial today online
Your subscription may be tax deductible. Please contact your tax advisor.

Content Partners
Morningstar - - Stock futures dip after pullback, as China disappoints
Name |  Ticker |  Star Rating |  Market Cap |  Stock Type |  Sector |  Industry Star Rating |  Investment Style |  Total Assets |  Category |  Top Holdings |  Top Sectors |  Symbol |  Title Star Rating |  Category |  Total Assets |  Top Holdings |  Top Sectors |  Symbol |  Name Topic |  Sector |  Key Indicators |  User Interest |  Market Cap |  Industry Name |  Ticker |  Star Rating |  Market Cap |  Stock Type |  Sector |  Industry Star Rating |  Investment Style |  Total Assets |  Category |  Top Holdings |  Top Sectors |  Symbol / Ticker |  Title Star Rating |  Category |  Total Assets |  Symbol / Ticker |  Name Title |  Date |  Author |  Collection |  Popularity |  Interest Title |  Date |  Company |  Symbol |  Interest |  Popularity Title |  Date |  Company |  Symbol |  Interest |  Popularity Title |  Date |  Author |  Collection |  Interest |  Popularity

Previous: Stock futures continue climb ahead of ADP, FOMC  |  Next: Stock futures dip ahead of consumer confidence