Futures Fall as Euro Debt Contagion Fears Linger - Fox Business

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U.S. markets were poised to open negative Tuesday as the ongoing concerns about the European sovereign debt situation continued to weigh on investors' minds here in the U.S. and in Europe.�

As of 7:35 a.m. in New York, the Dow Jones Industrial Average futures were down 37 points to 11002, the S&P 500 futures fell 5.2 points to 1181.30 and the Nasdaq 100 futures fell 9.25 points to 2136.25.�

Now that Ireland's debt situation is being handled by a EU-backed financial aid package, eyes have now turned to Spain and Portugal. Yields on both Spanish and Portuguese bonds struck new highs overnight as many widely expected these two Mediterranean would be next in line to need financial assistance.

Many traders have expressed concerns about Spain's financial situation, saying its economy is considerably larger than Ireland, Greece and Portugal. The euro was down 0.77% against the dollar to $1.30, continuing a slide that's erased 6.5% of its value against the dollar in the past seven days.�

"We need unanimity or purpose from the EU and its politicians over this debilitating crisis," said David Buik with BGC Partners in London in an e-mail. "Even Germany's [credit default swaps] have widened."

U.S. investors will get the Chicago Purchasing Managers' �index at 9:45 a.m. followed by the Conference Board's November consumer sentiment index at 9:55 a.m.�

Shares of Google (GOOG) may trade heavily today on reports in The Wall Street Journal and The New York Times that the Internet search giant is in the final negotiation stages to purchase local advertising and promotions company Groupon for more than $3 billion.�

In commodities, oil was down 0.4% to $85.40 a barrel and gold was up 0.6% to $1,375.10 a troy ounce.

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