Futures head lower as hopes for stimulus fade

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Associated Press

Posted on August 15, 2012 at 8:00 AM

Updated Wednesday, Aug 15 at 9:01 AM

NEW YORK (AP) — Stock futures are heading lower as expectations fade that central banks will step in with a quick fix to nudge along the fragile economic recovery.

Dow Jones industrial futures are down 20 points to 13,113. The broader S&P futures have lost 3 points to 1,398. Nasdaq futures are down 6 points at 2,721.

Economic indicators, including those this week, will likely ease the sense of urgency for fiscal policy makers to act quickly. Retail sales numbers released Tuesday were much better than expected and economists expect industrial production likely increased in July as automakers boosted activity. The industrial report will be released at 9:15 a.m. Eastern time Wednesday by the Federal Reserve.

China also appears increasingly less likely to act, like it did in 2008, for fear of inflation.

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