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US index futures decline on global growth concerns

FXStreet (Mumbai) - The activity in the US index futures indicates that stock markets in the US are likely to open on a weak note after a series of manufacturing data from China to Europe highlighted a slowdown in the activity.

The DJIA futures are trading 83 points lower at 17,573 levels, while the S&P 500 futures are down 10.10 points to trade at 2036.95 levels and the NASDAQ futures have shed 18.55 points to trade at 4205.20 levels.

A higher-than-expected US CPI inflation data along with the rise in the weekly jobless claims did little to support the index futures. The US CPI inflation failed to decline from 1.74% despite the weakness in the crude prices, while the initial jobless claims for the last week came-in at 291K, compared to the forecast of 284K. Meanwhile, Markit flash estimate of US PMI manufacturing is also due for release later today along with the existing home sales data for October.

Earlier today, the Asian markets ended on a weak note, as the soft Chinese manufacturing data curbed the ‘risk-on’ buying in the equities. In Europe, the stock markets declined after the flash PMI survey showed private activity in the Eurozone fell to a 16-month low in November. Elsewhere, the UK retail sales were reported at 0.8% in October, up from a 0.4% decline in September.

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