US stock-index futures drop

US stock-index futures fell after Humana Inc reduced its earnings forecast and concern grew that the Federal Reserve's plan to stem credit losses may not be enough to avert a recession.

Futures indicated the market will drop after posting the biggest gain in five years on Tuesday as investors reassessed the Fed's $200 billion plan.

Humana, the second-largest provider of government-sponsored health plans for the elderly, tumbled 23 percent in trading before the open of US exchanges.

Caterpillar Inc the largest maker of bulldozers, climbed after saying emerging markets will boost sales.

Standard & Poor's 500 Index futures expiring this month fell 2.6 points to 1,321.3 at 8:51 am in New York. Dow Jones Industrial Average futures lost 20 to 12,170.

NASDAQ-100 Index futures slipped 3.5 to 1,747. Stocks in Europe and Asia gained.

Healthcare companies, the only group among 10 industries in the S&P 500 to retreat yesterday, dropped for the 10th time in 11 days after Humana joined rival WellPoint Inc in lowering its forecast.

Agencies

(China Daily 03/13/2008 page17)