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MW; U.S. futures slip amid economic worries
 
By Steve Goldstein, MarketWatch

LONDON (MarketWatch) -- U.S. stock futures dropped Thursday as the Senate passage of the bailout package wasn't enough to counter concerns about economic woes amid rising jobless claims and a profit warning from Marriott International.

S&P 500 futures fell 14.5 points to 1,153.40 and Nasdaq 100 futures dropped 21.75 points to 1,557.00. Dow industrial futures lost 135 points.
U.S. stocks ended Wednesday with mild losses amid negative auto and manufacturing news after two volatile sessions. The Dow industrials ended 19 points lower, the Nasdaq Composite fell 12 points and the S&P 500 lost 3 points.
The Senate fairly easily approved a revised $700 billion U.S. plan to stabilize the financial industry, just two days after the House of Representatives rejected it.
The House may now consider it on Friday, according to House Majority Leader Steny Hoyer.
The revamped Senate bill sticks to the core plan developed by Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke to have the government buy and hold toxic mortgage assets, freeing up funds for banks to begin lending again. It gives Paulson the $700 billion in phases, with $250 billion up front, then $100 billion pending presidential approval and another $350 billion pending congressional approval.
Meanwhile, the Securities and Exchange Commission said it would extend the short-sale ban to as long as Oct. 17 - or up to three business days after the passage of the bailout plan-- but won't make it permanent.
Jobless claims remained at their highest level in seven years, the Labor Department reported Thursday, as people in the hurricane-hit states of Louisiana and Texas filed for benefits. For the week ended Sept. 27, seasonally adjusted first-time claims for unemployment benefits rose 1,000, to 497,000 - the highest level since late September 2001
The European Central as expected held interest rates at 4.25%. Jean-Claude Trichet, president of the ECB, acknowledged a deteriorating European economy while still warning that inflation risks remained.
The euro touched a one-year low vs. the dollar. Crude oil futures fell $1.99 to $96.54 a barrel.
UBS , the Swiss bank that's taken big losses from the subprime crisis, said it would return to profit in the third quarter after substantially reducing its exposure to U.S. commercial and residential mortgages. Swiss-listed UBS shares climbed 7%.
Elsewhere, Eli Lilly is the unnamed "big pharma" behind a $6.1 billion bid for ImClone Systems , according to a report in The Wall Street Journal. ImClone, without identifying Lilly, said due diligence has been completed and a proposal not subject to financing has been tendered.
Constellation Energy may receive a counter-bid from EdF, the French electricity firm said Thursday.
General Electric is due to price the $12 billion public offering it announced on Wednesday.
Marriott International warned next year's profit may fall as net income dropped nearly 30%.
European stocks advanced, with the FTSE 100 up 0.9% in London. Auto stocks dragged the Nikkei 225 to a 1.9% loss in Tokyo.
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