Futures head lower for second consecutive day

NEW YORK — U.S. stock futures are heading lower as investors continue to take profits.

Dow Jones industrial futures are down 11 points to 15,697 on Wednesday. S&P futures have lost 1.9 points to hit 1,801.20. Nasdaq futures are down 4.75 points to 3,511.25.

Many people are also moving to the sidelines ahead of the next meeting of the U.S. Federal Reserve, which begins Tuesday.

Economic data has been stronger than expected on almost every front, especially when it comes to job creation.

That has many believing that the U.S. will begin pulling back on its monthly $85 billion bond buying program, so the Fed statement that will be released next Wednesday will be getting a lot of attention.

The Treasury reports on the budget deficit for November at 2 p.m. Eastern time.

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