U.S. stock futures fell as an increase in Spanish yields and higher costs of insuring French bonds raised concern Europe’s debt crisis is worsening.
Futures trimmed losses today after a Commerce Department report showed U.S. retail sales increased 0.5 percent in October, topping economists’ estimates, and the Federal Reserve Bank of New York’s general economic index unexpectedly rose to 0.6, the first positive reading since May.
The yield on French 10-year bonds climbed today to a euro- era record relative to benchmark German bunds, as did Belgium’s and Spain’s. Mario Monti, Italy’s premier-in-waiting, faced political resistance on forming a Cabinet during talks in Rome yesterday. Economic growth in Europe failed to accelerate in the third quarter, the European Union’s statistics office said.
Crude oil: $97.84 (-0,3%).Gold: $1771,40 (-0,4%).