Wall Street futures signal falls; data in focus

NEW YORK (Reuters) - U.S. stock index futures pointed to a lower open for Wall Street on Wednesday, after disappointing housing and consumer spending data released a day earlier prompted some worries over the pace of economic recovery.

By 5:07 a.m. ET, futures for the S&P 500 were down 0.4 percent, Dow Jones industrial average futures were down 0.3 percent and Nasdaq futures were 0.3 percent lower.

Shares on Wall Street slipped on Tuesday after Dow component Procter & Gamble posted lackluster results, and data showed U.S. home purchase contracts tumbled to a record low in June, while factory orders fell more steeply than expected, implying an anemic economic recovery for the remainder of this year.

Investors will closely monitor the ADP Employment figures for July, due at 8:15 a.m. ET, to gauge the health of the U.S. labor market ahead of non-farm payrolls numbers on Friday.

Other data set for Wednesday include a report on planned U.S. job cuts for July by global outplacement consultancy Challenger, Gray & Christmas, Inc at 7:30 a.m. ET and non-manufacturing ISM index for July at 10 a.m. ET.

Notable corporate results to be released include quarterly earnings from media firms Time Warner and News Corp , and rig owner Transocean .

The dollar neared a 15-year low against the yen on Wednesday and stayed subdued across the board, as weak U.S. data and talk of further policy easing from the Federal Reserve pushed down Treasury yields.

In Europe, the FTSEurofirst 300 <.FTEU3> index of top shares was weak in early trade, falling below a key resistance level, with some worries over the pace of economic recovery lingering although strong earnings from the likes of Societe Generale limited further losses.

(Reporting by Harpreet Bhal; editing by Simon Jessop)