Greek debt worries weigh on stock futures

NEW YORK (AP) â€" So much for a comeback in the stock market.

Major indexes are headed for a lower opening Wednesday as investors become increasingly concerned about the debt crisis in Greece.

Thousands of people gathered in the streets of Athens to protest government cutbacks required to avoid a debt default. Credit ratings agency Moody's also said it may downgrade its ratings of France's three largest banks because of their exposure to Greek debt.

Stocks have fallen since late April, in part, because of fears about Greece. If the country defaults on its debt, it would slow the global economic recovery and put pressure on companies that do a majority of their business overseas.

Ahead of the opening bell, Dow Jones industrial average futures are down 104 points, or 0.9 percent, at 11,914.

Standard & Poor's 500 index futures are down 11, or 0.9 percent, at 1,274. Nasdaq composite index futures are down 20, or 0.9 percent, at 2,228.

The Dow jumped back above 12,000 on Tuesday and all three indexes had their best day so far in June.

In economic news, the government said that consumers paid a bit more for food, cars and housing last month. But the price increase was the smallest in six months.

A separate report later in the day is expected to show that the nation's factories produced more goods in May after shortages of parts from Japan caused them to reduce their output in April. That is good news for the manufacturing industry, which has showed signs of slowing

The stock of Pandora Media Inc. is also set to begin trading. The unprofitable Internet radio service priced its initial public offering at $16 a share, the high end of its range, reflecting the hot demand for high-profile Internet companies.