* China vows "decisive" role for markets, results seen by
* Regional Fed presidents Kocherlakota, Lockhart due to
* DISH Network shares up after Q3 results
* Futures down: Dow 8 pts; S&P 2.7 pts; Nasdaq 4.25 pts
By Angela Moon
NEW YORK, Nov 12 U.S. stock index futures fell
on Tuesday, a day after the Dow ended at a record high as
investors shifted focus to how soon the Federal Reserve may
begin reducing stimulus.
Speculation that the Fed could soon begin to taper its $85
billion-a-month in bond buying has grown since last week's
surprisingly strong U.S. jobs data, causing a sharp rise in U.S
Tuesday brings a number of Fed speakers, including
Minneapolis President Narayana Kocherlakota and Atlanta Fed
President Dennis Lockhart, who are due to speak in the early
"With tapering back on the table for December, we are seeing
some backup in yields, and this invites for some profit taking
in the stock market," said Peter Cardillo, chief market
economist at Rockwell Global Capital in New York.
Earlier, Dallas Fed President Richard Fisher said in an
interview with CNBC cable television the Federal Reserve's
monetary stimulus program cannot continue forever.
China unveiled a plan to broaden economic reforms but this
did little to lift global shares. China's leaders promised to
let markets play a bigger role in resource allocation in a new
policy blueprint announced at the end of a four-day meeting of
key officials from the ruling Communist Party.
S&P 500 futures fell 4 points and were 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 lost 18
points while Nasdaq 100 futures fell 8.5 points.
Dish Network Corp posted quarterly results that
beat Wall Street estimates as it added 35,000 pay-TV
subscribers, far exceeding expectations. The stock rose 4.2
percent in premarket trade.
News Corp could be in the spotlight, a day after
the company reported a steeper-than-expected 3 percent decline
in revenue in its first quarter as a standalone company, as
weakness at its Australian newspapers took a toll.
Europe's shares, meanwhile, fell from the five-year highs
seen last week as low volumes and a disappointing run of
corporate earnings results encouraged many investors to book
some of the gains made in this year's strong rally.