Futures down ahead of State of the Union address

US stock futures slip in light trading as markets await State of the Union address

Associated Press
Dow closes at highest level of year, nears record
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FILE - In this Tuesday, Feb. 5, 2013 file photo, trader Eric Schumacher works on the floor of the New York Stock Exchange, in New York. Tokyo's Nikkei 225 led Asian stocks higher Tuesday, Feb. 12, 2013, and investors appeared to have shrugged off an apparent nuclear test by North Korea. In the United States, on Tuesday, traders will be watching as the Labor Department releases the job openings and labor turnover survey for December and the Treasury releases the federal budget for January. (AP Photo/Richard Drew, File)

NEW YORK (AP) -- Futures are down in light trading ahead of President Barack Obama's State of the Union address, where the economy will take center stage.

Dow Jones industrial futures are down 4 points to 13,920. The broader S&P futures have lost 1.1 points to hit 1,512. Nasdaq futures are down 4.25 points to 2,766.25.

The unemployment rate ticked up a tenth of a point to 7.9 percent last month and though job growth continues, Obama is expected to introduce new job proposals in an attempt to accelerate the economic recovery.

On Tuesday, Coca-Cola said that profit rose 13 percent and global sales volume rose 3 percent, outpacing its flagship U.S. market, which rose 1 percent.

Many investors are awaiting the release of January retail sales numbers, which are due on Wednesday.

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