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US futures down as G20 meet in Russia

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February 15, 2013 08:23 AM EST | AP


NEW YORK — Futures are falling as the Group of 20 gathers in Moscow, where currency exchange policy, particularly in Japan, will likely dominate discussions.

Dow Jones industrial futures are down 12 points to 13,938. The broader S&P futures have lost 1.6 points to 1,516.90. Nasdaq futures are down 1.75 points to 2,765.50.

Japan has been forcing the value of the yen lower, which is advantageous for trade. That is likely to continue after it reported Thursday that its economy shrank for the third consecutive quarter.

Earlier this week, the yen fell to a 21-month low against the dollar and a near three-year low against the euro.

On Friday, the Federal Reserve releases industrial production numbers for January and economists expect a down month for automakers likely diminished factory output.