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Futures slide as hotspots overseas eclipse rebound

July 3, 2013

NEW YORK (AP) — U.S. stock futures are sliding along with global markets as hotspots in Europe and the Middle East overshadow what are expected to be positive economic signs at home.

The Dow Jones industrial futures are down 77 points to 14,784. The broader S&P futures have lost 9 points to 1,598.20. Nasdaq futures are down 19 points to 2,904.25.

Oil prices are spiking above $100 per barrel as Egypt’s army chief meets with top commanders to bring an end to the nation’s political crisis. Egypt controls the Suez canal, one of the world’s busiest shipping lanes for crude out of the region.

And financial markets in Portugal plunged Wednesday and the government neared collapse with pressure growing over massive budget cuts.

The U.S. is expected to release healthy numbers on jobs and business activity.

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