Economics
S&P 500 Futures Slip as Harvey's Impact on Industries Is Weighed
- Energy, chemical industries hit hardest; cotton storage hurt
- Economic impact difficult to assess, may remain regional
Harvey Hits Texas With Unprecedented Flooding
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Futures on American equity indexes slipped, paring gains from the biggest weekly advance in a month, as investors prepared to gauge consequences for stocks and industries from the strongest storm to hit the U.S. since 2004.
September contracts on the S&P 500 Index were down 0.1 percent as of 5:21 a.m. in New York, after the underlying index climbed 0.7 percent last week and ended within 1.6 percent of its record close set Aug. 7. Futures on the Dow Jones Industrial Average lost 0.2 percent while Nasdaq 100 Index contracts decreased 0.2 percent. Gasoline jumped and oil futures fell in New York.