US stock futures dip ahead of consumer spending

US stock market futures dip ahead of consumer spending data; Europe falls on Spain worries

Associated Press
Dow, S&P 500 slip as Spain enters recession

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Specialists Peter Giacchi, left, and John Parisi confer on the floor of the New York Stock Exchange Wednesday, April 25, 2012. U.S. stocks were headed for a neutral opening, with Dow Jones industrial futures nearly unchanged. (AP Photo/Richard Drew)

NEW YORK (AP) -- U.S. stock market futures are sliding ahead of March consumer spending data.

Dow Jones industrial average futures are down 0.17 percent at 13,141. Standard & Poor's 500 futures are down 0.25 percent at 1,395. Nasdaq 100 futures are off 0.37 percent at 2,726.

The Commerce Department is expected to report that spending rose faster than incomes. Recent economic reports are generating concern that the recovery is slowing down.

Europe isn't helping. Markets there are mainly down, weighed by growing concerns over Spain. Data confirmed Spain slipped back into recession in the first quarter.

Germany's DAX is off 0.31 percent. France's CAC 40 is down 1.13 percent. Britain's FTSE 100 is up 0.49 percent.

U.S. stocks to watch include Barnes & Noble Inc. and Microsoft Corp., which are teaming upon digital books.

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