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Futures drop as weak China, Europe data spurs growth worries

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[November 20, 2014] By Rodrigo Campos

NEW YORK (Reuters) - U.S. stock index futures fell on Thursday as concerns over global growth reemerged after weak business data out of the euro zone and a loss of momentum in Chinese factories.

* Euro zone business is growing at a slower pace than any forecaster expected this month and new orders have fallen for the first time in more than a year, despite price cuts.

* Growth in China's vast factory sector stalled in November, with output contracting for the first time in six months, a private survey showed on Thursday, adding to signs the economy may still be losing traction.

* The U.S. data calendar is busy, with weekly jobless claims and consumer prices due at 8:30 a.m. EST (1330 GMT), Markit's manufacturing PMI at 9:45 a.m. (1445 GMT) and home resales and the Philadelphia Fed business index at 10:00 a.m. (1500 GMT).

* GoPro <GPRO.O> shares fell 6.2 percent to $74.19 in premarket trading after a follow-on-offering of 10.4 million shares priced at $75 per share, a 5.2 percent discount to Wednesday's $79.09 close.

* Best Buy added 8.3 percent in premarket trading after posting revenue that beat analyst expectations.

Futures snapshot at 7:18 a.m. EST:

* S&P 500 e-minis were down 8.25 points, or 0.4 percent, with 122,611 contracts changing hands.

* Nasdaq 100 e-minis  were down 16.25 points, or 0.38 percent, in volume of 22,020 contracts.

* Dow e-minis were down 61 points, or 0.35 percent, with 21,282 contracts changing hands.

(Editing by Bernadette Baum)

[ 2014 Thomson Reuters. All rights reserved.]

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