Stock futures down ahead of durable-goods data MA

Stock futures down ahead of durable-goods data
MADRID (MarketWatch) — U.S. stock market futures traded lower in choppy action on Wednesday, as investors struggled with a lack of progress in Congress over the budget and with continued uncertainty over when the Federal Reserve will taper its bond-buying program. Data ahead should show whether new-home sales and durable-goods orders have recovered.

Futures for the Dow Jones Industrial Average (CBE JZ3) fell 21 points to 15,265, while those for the Standard & Poor’s 500 index (GLC:SPZ3) were off 2.9 points at 1,689.60. Futures for the Nasdaq 100 index (GLC:NDZ3) fell 3.25 points to 3,210.

“The market remains very news-driven,” said Adam Sarhan, chief executive of Sarhan Capital, in emailed comments. “Investors are looking for clarity on both fiscal and monetary issues…At this point, the jury is still out on both issues and that is a primary reason why we are seeing stocks pullback over the past week.”

Investors will be looking ahead to data from the U.S., with durable-goods orders due at 8:30 a.m. Eastern Time. Economists expect orders to drop 1.5% in August after retreating 7.4% in July, with Boeing Co. (NYSE:BA) the source of the projected fall. See Spotlight on the economy

New-home sales for August, meanwhile, are forecast to rise to a seasonally adjusted annual rate of 420,000, according to economists surveyed by MarketWatch. That data is due at 10 a.m. Eastern. Some investors are also looking ahead to Thursday’s gross domestic product revision for the second quarter and weekly jobless claims for further direction. http://www.marketwatch.com/story/stock-future...2013-09-25