Futures dip as France slips into recession

Wednesday, May 15th, 2013 | Finance News

NEW YORK (AP) — Stock futures dipped with another European nation sinking into recession, even while a rebound for the U.S. economy continues.

Dow Jones industrial futures are down 3 points to 15,172. The broader S&P futures have lost 0.80 points to 1,647.20. Nasdaq futures are down 0.25 points to 2,995.

France slid into recession, the European Union said Wednesday, meaning that the majority of the 17 countries in the block now have shrinking economies.

Overall, the euro region's economy contracted 0.2 percent in the latest quarter.

In the U.S., economists expect the Federal Reserve to report that U.S. factories likely increased their output in April, with automakers on a roll.

Deere topped Wall Street estimates for the second quarter Wednesday but cautioned that lingering economic concerns in many parts of the world are tempering its outlook.