US Futures Dip on Weak Data From China

By: Associated Press Email
By: Associated Press Email

Stock futures are heading lower with disquieting data from China overshadowing hopes that the Fed will announce new stimulus measures to revive the U.S. economy when it meets later this week.

Dow Jones industrial futures are down 20 points to 13,276. The broader S&P futures have given up 2.6 points to 1,435.60. Nasdaq futures are down 5 points to 2,818.

China's auto sales growth slowed to 3.7 percent in August, according to a report Monday from the government-authorized industry group, the China Association of Auto Manufacturers. It's more evidence of a pronounced economic cooling.

Imports also shrank unexpectedly for the world's second-largest economy and the Chinese president warned growth could slow further.

The monetary policymaking body of the U.S. Federal Reserve meets starting Wednesday.

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