May 30, 2012 / 11:18 AM / 6 years ago

US STOCKS SNAPSHOT-Futures cut losses after EU Commission comments

NEW YORK, May 30 (Reuters) - U.S. stock index futures cut their losses on Wednesday following comments from the European Commission outlining an economic strategy for the region’s banking system.

The Commission said the euro zone must boost growth and cut debt to regain investor confidence but it should also move towards a banking union, consider eurobonds and the direct recapitalization of banks from its permanent bailout fund.

S&P 500 futures fell 8.5 points and were below fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures fell 62 points and Nasdaq 100 futures lost 29 points.

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