November 13, 2012 / 10:10 AM / in 5 years

U.S. stock futures fall on "fiscal cliff" concerns

LONDON, Nov 13 (Reuters) - U.S. stock index futures pointed to a lower open on Wall Street on Tuesday, with futures for the S&P 500, the Dow Jones and the Nasdaq 100 falling 0.5 to 0.7 percent on uncertainty over the fiscal dispute.

* U.S. lawmakers return to the capital on Tuesday with a seven-week deadline to reach agreement over the “fiscal cliff” - scheduled tax hikes and budget cuts that threaten to trigger another recession.

* ICSC/Goldman Sachs release at 1245 GMT chain store sales for the week ended Nov. 10. In the previous week, sales fell 0.2 percent.

* Microsoft and Google’s Motorola Mobility unit are set to square off on Tuesday at a trial with strategic implications for the smartphone patent wars and which could reveal financial information the two companies usually keep under wraps.

* The executive most widely tipped to be the next chief executive of Microsoft has left the world’s largest software maker barely two weeks after launching the flagship Windows 8, as CEO Steve Ballmer moved to tighten his grip on the company.

* Redbook releases its Retail Sales Index of department and chain store sales for November at 1355 GMT. In the prior period, sales fell 0.6 percent.

* Goldman Sachs Group Inc is quitting the South Korean asset management business just five years after entering the highly competitive market, the firm’s Hong Kong-based spokesman said on Tuesday.

* The Treasury Department issues monthly budget for October at 1900 GMT. Economists forecast a $114.0 billion deficit, compared with a budget surplus of $75.0 billion in September.

* PepsiCo Inc is in talks to sign a bottling agreement in Myanmar, ramping up the competition with Coca-Cola Co as they fight for market share in a country emerging from decades of isolation.

* Private equity firm Blackstone Group LP and LLOG Exploration Company LLC will jointly invest $1.2 billion to strengthen the offshore oil producer’s operations in Mexico, the two firms said on Tuesday.

* Hologic Inc shares fell 2.9 percent after the bell on Monday following the release of its results.

* Major companies announcing results on Tuesday include Cisco Systems, The Home Depot and The TJX Companies.

* European stocks fell 0.4 percent on Tuesday, led by German utility E.ON after it issued a profit warning.

* U.S. stocks were little changed in a lightly traded session on Monday, with investors limiting bets ahead of what could be a drawn-out battle over the fiscal cliff.

* The Dow Jones industrial average slipped 0.23 point to 12,815.16 on Monday. The Standard & Poor’s 500 Index added 0.15 point, or 0.01 percent, to 1,380.00. The Nasdaq Composite Index was off 0.62 point, or 0.02 percent, to 2,904.25.

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below