Stock futures point to lower Wall Street open

[July 29, 2009]  INDIANAPOLIS (AP) -- Stock index futures are pointing toward a lower start on Wall Street as investors grow increasingly wary about the economic recovery.

The stock market's two-week market rally is on hold after earnings reports and the Conference Board's reading on consumer confidence fell short of expectations. Reports early Wednesday of a possible Internet search deal between Microsoft Corp. and Yahoo Inc. did little to sway the market.

Traders also appear to be brushing off gains in overseas markets, which are up on generally positive earnings from leading industrial companies.

Investors are waiting for the Federal Reserve's latest assessment of business conditions around the nation and a report on June durable goods orders.

Dow Jones industrial average futures are down 30, or 0.3 percent, at 9,020. Standard & Poor's 500 index futures are down 4.10, or 0.4 percent, at 971.80, while Nasdaq 100 index futures are down 1.75, or 0.1 percent, at 1599.75.

[Associated Press; By IEVA M. AUGSTUMS]

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