* Ireland gets bailout, investor jitters remain
* Euro hovers near two-month lows versus the U.S. dollar
* Focus on consumer shares as holiday shopping starts
* Futures: Dow flat, S&P off 0.2 pt, Nasdaq off 2.25 pts
* For up-to-the-minute market news see []
(Adds quote, byline, updates prices)
By Rodrigo Campos
NEW YORK, Nov 29 (Reuters) - U.S. stock index futures
dipped on Monday as lingering worries about Europe's ability to
contain a credit crisis despite a bailout for Ireland more than
offset signs of a U.S. consumer comeback.
U.S. shoppers appeared to be ready to open their wallets
again after the recession, spending 6.4 percent more than last
year during the Black Friday weekend, the traditional start to
the holiday shopping season.
European stocks ticked 0.6 percent lower and the euro fell
to two-month lows against the U.S. dollar after European Union
finance ministers endorsed an 85 billion-euro loan package to
help Dublin bridge its deficit and shore up the economy. For
details, see []
Nervousness about Ireland and the possibility it could lead
to bigger problems as the euro zone works its way through a
sovereign debt crisis has weighed on stocks in recent weeks.
U.S.-traded shares of European banks fell, with Deutsche
Bank <DBKGn.DE><DB.N> down 3.1 percent to $48.98 and Credit
Suisse <CSGN.VX><CS.N> off about 1 percent to $38.02. But an
ETF of U.S. financial stocks <XLF.P> was unchanged in light
morning trade.
"European concerns linger and the band-aid over the weekend
doesn't seem to make people comfortable," said Steve Goldman,
market strategist at Weeden & Co in Greenwich, Connecticut.
He said the recent outperformance in consumer-related
stocks and with U.S. bank shares seeming to be holding better
than their European peers could limit losses in the U.S.
equities market.
S&P 500 futures <SPc1> dipped 0.2 point 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 <DJc1> were
unchanged, and Nasdaq 100 futures <NDc1> fell 2.25 points.
Adding to global jitters, South Korean President Lee
Myung-bak vowed retaliation against any further provocation
after the North attacked a South Korean island last week and
anger grew at the South's response. []
Whistle-blowing web site WikiLeaks leaked a vast cache of
U.S. diplomatic cables, including ones that showed Saudi King
Abdullah repeatedly urged the United States to attack Iran.
[]
Wal-Mart Stores Inc <WMT.N> made a $2.3 billion formal bid
for 51 percent of Massmart Holdings Ltd <MSMJ.J> to give it a
substantial presence in South Africa and pave the way for
further expansion in the continent. []
Commodity-related shares led U.S. stocks lower on Friday in
a shortened post-holiday session. Markets were closed on
Thursday for the U.S. Thanksgiving holiday.
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
To watch Reuters Insider report, "Upside resistance for S&P
500 is 1,220 short term, click: http://r.reuters.com/vas57q
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
(Reporting by Rodrigo Campos; editing by Jeffrey Benkoe)
