US futures fall on economic unease abroad

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NEW YORK (AP) -- Stock futures are declining as strong earnings from U.S. companies are being overshadowed by a week's worth of disquieting economic reports from China and Europe.

The Dow Jones industrial average futures are down 27 points to 12,974 and Standard & Poor's 500 futures are off 1.6 points to 1,387.3. Nasdaq 100 futures are down less than a point at 2,730.50.

The Commerce Department is expected to report Friday that for the fifth time in six months, more Americans bought new homes. On three days so far this week, housing reports have suggested that the worst is over in a sector that has dragged heavily on the U.S. economy.

But investors can't seem to shake the thought of a hard landing for China, or of an slow recovery in Europe.