US STOCKS-Futures down on Spain debt worry, FedEx off

                                
   * FedEx shares fall 2 pct premarket following Q4 results
                                
 * European Commission denies Spain liquidity plan
                                
 * Futures down: Dow 52 pts; S&P 6.7 pts; Nasdaq 7.25 pts
                                
 * For up-to-the-minute market news see [STXNEWS/US]
(Updates prices, adds FedEx, byline)
                                
 By Rodrigo Campos
                                
 NEW YORK, June 16 (Reuters) - U.S. stock index futures fell
on Wednesday, a day after Wall Street jumped more than 2
percent, on new concerns about Spain's fiscal problems, while
investors awaited data on producer prices and housing.
                                
 The premium that investors demand to hold 10-year Spanish
government bonds rather than euro zone benchmark German Bunds,
hit a euro lifetime high even as the European Commission denied
a report the European Union, the International Monetary Fund
and the U.S. Treasury were drawing up a liquidity plan for
Spain. For details, see [ID;nLDE65F0GX]
                                
 The euro, used in the current climate to assess investors'
risk appetite, briefly hit a two-week high before dropping
against the U.S. dollar.
                                
 "After the rumor about Spain and further problems that were
denied, at least some people are questioning if a strong move
(like Tuesday's) has to run out of steam a little bit," said
Rick Meckler, president of investment firm LibertyView Capital
Management in New York.
                                
 Further weighing on investor sentiment, FedEx Corp <FDX.N>
shares fell 2 percent premarket to $81.34 after the bellwether
posted quarterly results. [ID:nN16137197]
                                
 S&P 500 futures <SPc2> fell 6.7 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 <DJc2> lost 52
points, and Nasdaq 100 futures <NDc2> dropped 7.25 points.
                                
 The S&P 500 closed above its 200-day simple moving average
on Tuesday, and its ability to stay above that level could be
tested.
                                
 The Commerce Department will release May housing starts and
permits and the Labor Department reports the May producer price
index, both at 8:30 a.m. EDT (1230 GMT). Economists expect
housing starts at 650,000 and permits at 630,000, while monthly
core PPI is seen at 0.1 percent.
                                
 The Federal Reserve releases May industrial production and
capacity utilization data at 9:15 a.m. (1315 GMT), with
capacity seen at 74.5 percent and monthly output expected up
0.9 percent.
                                
 Energy stocks will be in the spotlight as U.S. President
Barack Obama, in a meeting with BP Plc <BP.L><BP.N> executives
later Wednesday, will demand it set aside billions of dollars
to pay damages from the Gulf of Mexico oil spill.
[ID:nN15112656]
                                
 Bank of America-Merrill <BAC.N> has ordered traders not to
enter into oil trades with BP that extend beyond June 2011, a
source told Reuters. [ID:nN15104614]
                                
 BP's New York-traded stock lost 4.5 percent to $30
premarket.
                                
 Technical glitches thwarted AT&T Inc <T.N> customers trying
to reserve the latest version of Apple Inc's <AAPL.O> iPhone on
Tuesday, the first day of preorders before the device hits
stores on June 24. [ID:nN15169211]
                                
 U.S. shares surged on Tuesday as investors went on a buying
spree, pushing the S&P 500 into positive territory for 2010.
  (Reporting by Rodrigo Campos; editing by Jeffrey Benkoe)