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US stock futures fall after Fed chair's outlook, president's jobs package fail to inspire
U.S. stock futures are following world markets lower after closely-watched speeches by Federal Reserve Chairman Ben Bernanke and President Barack Obama.
Bernanke said that weak consumer spending is hurting the economy. He offered no new details about plans to spur growth. Stocks slid after Bernanke spoke Thursday afternoon.
Thursday evening, President Obama unveiled a $447 billion package of tax cuts and new spending to stimulate job growth. Its chances of passing Congress are uncertain. Republicans control the House and many of them oppose any new spending.
Two hours before the market opens, S&P 500 futures are down 7 points, or 0.6 percent, at 1,173. Dow Jones industrial average futures are down 50, or 0.5 percent, at 11,173. Nasdaq 100 futures are down 13, or 0.6 percent, at 2,199.