US STOCKS-Futures off on euro zone worries, data eyed

* Euro hits 10-week low

* Home prices, consumer confidence data on tap

* Futures down: Dow 39 pts; S&P 5.8 pts, Nasdaq 14.25 pts

* For up-to-the-minute market news see [STXNEWS/US]

NEW YORK, Nov 30 (BestGrowthStock) – U.S. stock index futures were
lower on Tuesday as worries persisted over euro zone debt and
ahead of key data that will indicate the strength of a recovery
in the world’s largest economy.

* The euro slid to 10-week lows against the U.S. dollar,
pressuring metals and other commodity prices, after a weekend
rescue package for Ireland did little to stem fiscal concerns
and speculators targeted other debt-laden countries. For
details, see [ID:nLDE6AT0N5] and [ID:nLDE6AT18Y]

* The correlation between the euro and stocks has become
more pronounced in recent weeks as the European debt problems
resurfaced, with traders selling the euro and stocks together.

* House prices and consumer confidence data will be in
focus as investors look for more signs the U.S. economic
recovery advances.

* S&P 500 futures (SPc1: ) fell 5.8 points and were below
fair value, a formula that evaluates pricing by taking into
account interest rates, dividends and time to expiration on the
contract. Dow Jones industrial average futures (DJc1: ) dropped
39 points and Nasdaq 100 futures (NDc1: ) lost 14.25 points.

* Data due Tuesday is expected to show home prices fell in
September compared to August, while the year-on-year increase
is forecast to show a deceleration in price gains.

* The S&P/Case-Shiller Home Price Indices, due at 9 a.m.
EST (1400 GMT), is expected to show a 1.1 percent rise from a
year ago, slower than the 1.7 percent gain the previous month.

* The Conference Board’s index of consumer confidence for
November, due at 10 a.m. (1500 GMT), is expected to show a mild
improvement, with economists forecasting a rise to 52.6, from
50.2 in October.

* Swiss engineering group ABB (ABBN.VX: ) will buy U.S.
industrial motors firm Baldor Electric Co (BEZ.N: ) for $3.1
billion, a 41 percent premium to Baldor’s closing price on
Monday. [ID:nLDE6AT02K]

* U.S. stocks (Read more about the stock market today. ) fell on Monday but finished well off their
lows of the day as the dollar retraced earlier gains and energy
and financial stocks rallied late in the session.
(Reporting by Rodrigo Campos; editing by Jeffrey Benkoe)

US STOCKS-Futures off on euro zone worries, data eyed