By Michael P. Regan Sept. 25 (Bloomberg) -- U.S. stock-index futures fell, erasing an earlier advance, after orders for durable goods unexpectedly slumped in August. Futures on the Standard & Poor’s 500 Index expiring in December lost 0.1 percent to 1,042.8 at 8:31 a.m. in New York after the Commerce Department reported a 2.4 percent slide in bookings for goods meant to last several years. The S&P 500 has lost 1.6 percent this week, trimming its advance from a 12-year low in March to 55 percent, as sales of existing homes unexpectedly slumped and the Federal Reserve said it will cut the size of two programs meant to bolster credit markets. The rally since March 9 has left the measure valued at 19.8 times the reported earnings from continuing operations of its companies, the most expensive level since 2004, according to weekly data compiled by Bloomberg. The G-20 concludes its two-day meeting today. U.S. President Barack Obama and his counterparts are poised to crack down on banker pay and better coordinate economic policies as they seek to temper the excesses that helped trigger the worst financial crisis since the Great Depression. Separately, Fed Governor Kevin Warsh said the U.S. may need to be as aggressive in reversing its actions to revive the economy as it was in starting.

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