* China industrial output growth slows to 10 pct
* Lululemon names new CEO, founder Chip Wilson to step down;
* Volcker rule will be delayed until 2015 -CFTC's Chilton
* Futures: Dow up 16 pts; S&P down 2.5 pts; Nasdaq down 3.5
By Angela Moon
NEW YORK, Dec 10 The S&P 500 index futures edged
lower on Tuesday after the market closed at yet another record
high and economic data showed growth in China's industrial
production slowed last month.
The benchmark S&P 500 rose to a new high on Monday
despite speeches from a number of policymakers that suggested
the U.S. central bank may be closer than previously thought to
trimming its $85 billion a month in bond purchases.
"We are pretty much at the high end of a trading range. The
key is that the market is absorbing core Fed speakers singing
the same tune that tapering is in the air and there will be some
sort of announcement next week at the FOMC meeting. It is taking
it pretty well," said Peter Cardillo, chief market economist at
Rockwell Global Capital in New York.
In Washington, a budget deal aimed at avoiding a U.S.
government shutdown on January 15 and relieving federal agencies
of some spending cuts could emerge in Congress on Tuesday.
In earnings, Toll Brothers Inc shares rose 3.9
percent in premarket trade after the company announced its
High-end yoga-wear retailer Lululemon Athletica Inc
named Laurent Potdevin as its chief executive and said founder
Chip Wilson will step down as non-executive chairman. The stock
rose about 3 percent in premarket trade.
China's industrial output rose 10.0 percent in November from
a year earlier, slightly below market expectations, while retail
sales were up a stronger-than-expected 13.7 percent, data showed
Shares of Rambus Inc jumped 9.3 percent in
premarket trading after settling a patent dispute with Micron
Twitter shares could be in the spotlight after the
stock soared more than 9 percent on Monday to its highest level
since the social media company's initial public offering. A
spate of product announcements could boost revenue prospects.
S&P 500 futures fell 2.3 points and were slightly
below fair value, a formula that evaluates pricing by taking
into account interest rates, dividends and time to expiration on
the contract. Dow Jones industrial average futures rose
16 points and Nasdaq 100 futures fell 3.5 points.
The United States will not implement the so-called Volcker
rule before 2015, a top regulator said on Tuesday, a widely
expected move after regulators struggled for years to agree on
the ban on proprietary trading.
Bart Chilton, a member of the Commodity Futures Trading
Commission, said he expected the agency to adopt the rule behind
closed doors on Tuesday despite a government shutdown in
Washington because of the threat of a snowstorm.