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Wall Street futures signal losses (Reuters)

Addison Ray

LONDON (Reuters) � Futures for the Dow Jones industrial average, the S&P 500 and the Nasdaq 100 fall 0.3 to 0.4 percent, pointing to a weaker start on Wall Street on Wednesday.

At 1100 GMT the Mortgage Bankers Association will release the Weekly Mortgage Market Index for the week ended September 17, versus the prior week. The index was at 801.5 and the refinancing index was at 4,396.1 in the previous week.

U.S. Treasury Secretary Timothy Geithner is scheduled to appear at a House Financial Services Committee hearing on financial regulation on the state of the international financial system, including regulatory concerns.

The Federal Housing Finance Agency issues at 1400 GMT Home Price Index for July. In the prior month, the index fell 0.3 percent.

Cheerios maker General Mills (GIS.N) will lead quarterly results from several companies that might give an indication of the mood of consumers about spending in the currently weak economy. Other companies reporting results include Bed Bath & Beyond Inc. (BBBY.O) and Darden Restaurants (DRI.N).

eBay shares (EBAY.O) rose 0.7 percent in extended trade on Tuesday after the company said it expects its third-quarter results to be near the high end of guidance provided in July.

China's foreign ministry told the United States on Tuesday to stop pointing its finger at Beijing and pushing for a stronger yuan, saying Washington should focus on spurring its fragile economy.

The strong-worded statement by the ministry came as U.S. President Barack Obama kept up the rhetoric ahead of mid-term U.S. congressional elections in November and as the yuan extended gains to a ninth day -- its longest rally since it was revalued in July 2005.

India is aiming to finalize a $5.8 billion defense agreement with the United States before the November visit of Obama in a deal that would mark the biggest India-U.S. defense deal ever.

The two countries are in talks for India to acquire 10 Boeing (BA.N) C-17 Globemaster III transporter planes, senior government officials said on Wednesday, adding the parties hope to make the announcement during Obama's visit.

Japan's Sharp Corp (6753.T) said it will buy U.S.-based developer of solar power systems Recurrent Energy for up to $305 million.

Shares in Adobe Systems Inc (ADBE.O) slid more than 8 percent late on Tuesday after the company reported quarterly results.

U.S. stocks ended flat to lower in an erratic session on Tuesday after the Federal Reserve inched closer to further steps to spur the economy. Stocks initially popped higher but then quickly fell back.

Investors had hoped that with recent improvements in economic data the Fed would issue a more upbeat outlook or clarify the measures it would take to stimulate demand.

The Dow Jones industrial average (.DJI) was up 7.41 points, or 0.07 percent, at 10,761.03. The Standard & Poor's 500 Index (.SPX) was down 2.93 points, or 0.26 percent, at 1,139.78. The Nasdaq Composite Index (.IXIC) was down 6.48 points, or 0.28 percent, at 2,349.35.

Japan's Nikkei stock average (.N225) dipped on Wednesday, but losses were stemmed after the dollar edged back up toward the 85 yen level and by expectations that a strong yen rise would bring further Japanese intervention.

European shares fell more than 1 percent on Wednesday, led lower by banks, as investors remained concerned about the sustainability of the global economic recovery.

The dollar fell on Wednesday to its lowest level versus the yen since Japan intervened last week, with the dollar index hitting a six-month trough after the Federal Reserve raised expectations of more monetary easing.

(Reporting by Atul Prakash; Editing by Greg Mahlich)



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