U.S. stock futures were set to fall after Germany failed to receive enough bids at a bond auction to meet its target. Futures were also reacting to renewed concerns about a slowdown in China.
U.S. durable goods orders fell 0.7% in October. Personal income rose 0.4%, higher than expectations, and spending rose 0.1%. The government’s September spending estimate was revised up, with 0.7% growth. The personal savings rate rose to 3.5% from 3.3%.
Dow futures fell 97 points to 11,368; S&P 500 futures fell 9.6 points to 1,173.2.
Bank stocks continued their swoon, with Bank of America (BAC) falling another 1.9% in pre-market trading.
Deere & Co. (DE) rose 5.8% after the company posted strong fourth quarter earnings.