US stock futures fall after market's big rally

By Chip Cutter

Associated Press

Published: Tuesday, Aug. 30 2011 7:31 a.m. MDT

In this Aug. 29, 2011 photo, traders work on the floor of the New York Stock Exchange Monday, Aug. 29, 2011. European stocks were hurt Tuesday, Aug. 30, by a report showing economic sentiment in the eurozone was souring due to uncertainties about the future of the global economic recovery and the region's festering debt crisis.

Richard Drew, Associated Press

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Summary

U.S. stock futures are falling a day after the Dow Jones industrial average rose by 254 points.

NEW YORK — U.S. stock futures are falling a day after the Dow Jones industrial average rose by 254 points.

Stocks got a strong start to the week as it became clear that Tropical Storm Irene caused far less damage than many had feared. On Tuesday, investors will get updates on consumer confidence and home prices.

Consumer confidence likely dropped in August, a worrisome sign for the nation's retailers during the critical back-to-school season. Yet economists expect that home prices rose for the third straight month in June.

About 90 minutes before the opening bell, Dow futures are down 47 points, or 0.4 percent, at 1,472. Standard & Poor's 500 index futures are down 6, or 0.5 percent, at 1,202. Nasdaq 100 index futures are down 6, or 0.3 percent, at 2,214. .

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