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US futures dip on a few weak corporate earns

August 7, 2013

NEW YORK (AP) — Weak earnings and few economic indicators to counter them are pushing U.S. stock futures lower.

Dow Jones industrial futures gave up 47 points to 15,427. S&P futures fell 4.7 points to 1,689.20. Nasdaq futures slipped 6 points to 3,112.

U.S. markets suffered their worst decline since June after two officials with the Federal Reserve suggested Tuesday that a massive government bond-buying program could be relaxed. The U.S. has been spending $85 billion every month to acquire bonds, which has kept interest rates at historic lows.

That sell-off appeared to continue Wednesday.

Disney, which had a profitable quarter, is falling in premarket trading Wednesday after saying it may take a loss on “The Lone Ranger,” which bombed at the box office.

First Solar is down 6 percent after falling short of Wall Street expectations and cutting its outlook.

But Time Warner’s profit jumped 87 percent, easily topping most expectations.

The Federal Reserve is expected to report that consumers increased their borrowing in June. The central bank report is due at 3 p.m. Eastern (1900 GMT).

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