seems we have a storm approahing us -80, page-5

NEW YORK (AP) -- Stock futures retreated Tuesday following the lead of overseas markets as investors worldwide continue to worry about the pace of a global recovery....

The National Association of Realtors is expected to report that sales of previously occupied homes plunged in July to their lowest level in more than a decade. Economists predict sales fell as much as 26 percent in July from a month earlier to a seasonally adjusted annual rate of 3.95 million.

Sales have tumbled since a home buyer tax credit expired at the end of April, despite mortgage rates falling to record lows. Banks have also been selective in giving loans, which could be freezing out many potential buyers.

Home buyers also remain skittish about the value of homes and job concerns remain pervasive adding to the caution. The unemployment rate remains at 9.5 percent and weekly claims for unemployment benefits have consistently risen in recent weeks....

http://finance.yahoo.com/news/Stock-futures-drop-on-global-apf-2362631666.html?x=0&sec=topStories&pos=2&asset=&ccode=