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Stock futures signal more losses for equities

Oct 3, 2011, 1:44 a.m.
Trader Michael Zicchinolfi (C) works on the floor of the New York Stock Exchange September 28, 2011. REUTERS/Brendan McDermid

(Reuters) Stock index futures pointed to a weaker open on Wall Street on Monday after steep declines in the previous session, with futures for the S&P 500, for the Dow Jones and for the Nasdaq 100 down 0.6-0.9 percent.

* The Institute for Supply Management releases at 1400 GMT its September manufacturing index. Economists expect a reading of 50.5 versus 50.6 in August.

* Chipmaker Intel Corp is to acquire mobile navigation software maker Telmap, the chief executive of the Israel-based company said on Sunday.

* The Commerce Department releases August construction spending figures at 1400 GMT. Economists predict a drop of 0.3 percent, compared with a 1.3 percent fall in July.

* Barclays and Bank Of America are looking to sell their stakes in apartment company Archstone, a source familiar with the matter said on Sunday.

* President Barack Obama may send to Congress as early as Monday three long-stalled free trade agreements with South Korea, Panama and Colombia, a senior administration official said on Saturday.

* Oracle chief executive Larry Ellison unveiled new all-in-one data center products as the world's No.3 software maker steps up its move into hardware.

* Eastman Kodak shares lost more than half their value on Friday after the company hired a law firm well-known for bankruptcy cases, triggering speculation the photography pioneer could file for bankruptcy.

* China's factory activity picked up in September for a second month in a row and export orders strengthened, offering reassurance that the world's second-largest economy can weather global economic turmoil.

* European shares were 2.4 percent lower on Monday morning after draft budget figures showed Greece would miss a deficit target set just months ago in a massive bailout package, showing drastic steps taken to avert bankruptcy may not be enough.

* European Central Bank member Christian Noyer said on Monday it is unrealistic to expect an increase in Europe's bailout fund beyond what was agreed in July, but that he is open to schemes that would allow leveraging to expand capacity.

* U.S. stocks ended their worst quarter since the depths of the 2008 credit crisis, crippled by Europe's debt debacle, a U.S. credit downgrade and a sputtering global economy.

* The Dow Jones industrial average dropped 240.60 points, or 2.2 percent, to 10,913.38 on Friday. The Standard & Poor's 500 Index fell 28.98 points, or 2.5 percent, to 1,131.42. The Nasdaq Composite Index lost 65.36 points, or 2.6 percent, to 2,415.40.

(Reporting by Atul Prakash; Editing by Dan Lalor)

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