US futures trim early gains on durable goods drop

NEW YORK (AP) ? U.S. stock futures have trimmed their early gains after a report showed weaker-than-expected orders for long-lasting products.

Dow Jones industrial average futures are up 16 points to 12.85, while Standard & Poor’s 500 futures are flat at 1,367. Nasdaq composite index futures added 4 points to 2,612.

The gains come as Europe is having a mostly positive day after a dip in oil prices. Germany’s DAX is up 0.43 percent to 6,879. France’s CAC 40 is up 0.43 percent to 3,456. Britain’s FTSE 100 edged down 0.33 percent to 5,915.

Oil prices are down to $108.50 a barrel on weaker Asian demand.

The Commerce Department says January orders for durable goods fell by a steeper-than-expected 4 percent.

U.S. stocks to watch include Hovnanian Enterprises. The homebuilder says first-quarter contracts climbed.