US stock futures slip on earnings, French debt

October 20, 2011 - 5:50 PM
Wall Street

FILE - In this Oct. 12, 2011 file photo, Stephen Holden, center, works on the floor of the New York Stock Exchange with fellow traders. Skepticism over Europe's ability to deliver a comprehensive solution to its debt troubles weighed on market sentiment Tuesday, Oct. 18, 2011, as did a warning from Moody's that it could soon review France's cherished triple-A credit rating for possible downgrade. (AP Photo/Richard Drew, File)

NEW YORK (AP) — U.S. stock futures are slipping after disappointing corporate earnings and another sign that Europe's credit crisis isn't solved.

Moody's warned late Monday that it may downgrade France's top-notch credit rating in the next three months. That country's finance minister said Tuesday that the French economy may grow at a slower pace than expected.

In the U.S., International Business Machines Corp. fell 4 percent in premarket trading after missing Wall Street's revenue estimates last quarter.

Goldman Sachs, Apple and Intel will release earnings by the end of the day.

Two hours before the market opened, Dow futures fell 34 points, or 0.3 percent, to 11,267. S&P 500 futures lost 2, or 0.2 percent, to 1,191. Nasdaq 100 futures gained 7, or 0.3 percent, to 2,327.