US STOCKS-Futures pointing to losses after sharp rally

* Futures ease after Monday’s big gains

* U.S. March wholesale trade on tap for 10:00 a.m.

* Futures off: S&P 13.3 pts, Dow 113 pts, Nasdaq 22.25 pts

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

(Rewrites, adds details, quote, byline)

By Leah Schnurr

NEW YORK, May 11 (BestGrowthStock) – U.S. stock index futures were
lower on Tuesday, easing after the previous session’s hefty
gains and as concerns lingered about how Greece will get its
budget deficit under control.

Stocks racked up their biggest one-day gain in more than a
year on Monday as agreement on a $1 trillion emergency rescue
package from the European Union quelled fears a new credit
crisis would derail European economies.

But the International Monetary Fund said on Tuesday that
while Greece’s public debt is sustainable over the medium term,
persistent low growth, or even a moderate economic jolt, could
set back the country. For details, see [ID:nN10120683]

“The question becomes, ‘Does Sunday night’s announcement
create a moral hazard where governments are really not going to
take the extreme steps they have to?'” said Paul Mendelsohn,
chief investment strategist at Windham Financial Services in
Charlotte, Vermont.

“You’re trying to solve debt with debt. That’s not really a
great prescription for a long term solution.”

Data that showed Chinese annual inflation pushed up to an
18-month high in April added to the morning’s negative tone as
it raised the possibility of higher interest rates in coming
months. The data, as well as the stronger U.S. dollar, weighed
on commodity prices, which could pressure shares of resource
companies. [ID:nSGE64A094]

In the United States, wholesale trade data for March is
expected at 10:00 a.m. (1500 GMT) Wholesale inventories are
expected to rise 0.5 percent compared to 0.6 percent the
previous month, while wholesale sales are expected to rise 1
percent from 0.8 percent the month before. [ECI/US]

S&P 500 futures (SPc1: ) fell 13.3 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: ) tumbled
113 points, and Nasdaq 100 futures (NDc1: ) lost 22.25 points.

Two key amendments to the U.S. Senate’s far-reaching Wall
Street overhaul bill are expected to be voted on, with a
measure that would allow limited oversight of the Federal
Reserve expected to pass. [ID:nN10182726]

Senior executives from NYSE Euronext (NYX.N: ), Nasdaq OMX
Group Inc (NDAQ.O: ) and CME Group Inc (CME.O: ) will testify to a
congressional panel on last week’s shock sell-off in the stock
markets. [ID:nN10224950]

Big oil will be under the spotlight when U.S. lawmakers
grill top executives on the drilling rig explosion and oil
spill that threatens an environmental catastrophe in the Gulf
of Mexico. [ID:nN11246329]

Stock Market Today

(Editing by Padraic Cassidy)

US STOCKS-Futures pointing to losses after sharp rally