By Lynn Thomasson Nov. 12 (Bloomberg) -- U.S. stock-index futures retreated, indicating equities will post a third day of declines, after Best Buy Co. predicted lower profit and falling oil and metal prices dragged down commodity producers. Best Buy, the world's largest electronics retailer, fell 12 percent after citing a ``rapid, seismic'' slowdown in consumer spending. Exxon Mobil Corp. and Chevron Corp. declined as oil sank to a 20-month low. General Motors Corp. rallied 13 percent as lawmakers called for a package to rescue the auto industry. Standard & Poor's 500 Index futures expiring in December fell 0.4 percent to 889.20 at 8:33 a.m. in New York. Dow Jones Industrial Average futures retreated 37 points, or 0.4 percent, to 8,600. The S&P 500 is down 39 percent this year on concern the credit crisis sparked by a surge in U.S. mortgage defaults will drag down the global economy. President-elect Barack Obama may inherit the worst U.S. downturn in three decades, according to economists surveyed by Bloomberg News. The benchmark for U.S. stocks yesterday fell for a second day as a deteriorating outlook for American industry and oil's retreat signaled the economic slump may deepen. Best Buy declined $2.84 to $21.04. Profit for the year ending in February may be as low as $2.30 a share, the company said. Analysts projected $3.04, according to the average estimate in a Bloomberg survey. Exxon Mobil, the world's biggest energy company, fell 0.3 percent to $72.40. Chevron slipped 0.2 percent to $73.40. Less Than $58 Crude oil fell as low as $57.70 a barrel in New York on forecasts that tomorrow's Energy Department report will show U.S. crude inventories grew last week as the worsening economy lessens energy demand. GM rallied 38 cents to $3.30 after House Speaker Nancy Pelosi urged Congress to support the auto industry, rejecting calls to let the country's largest carmaker collapse. Congressional Democrats are urging President George W. Bush to back an economic stimulus package that would provide federal aid to state governments while boosting spending on unemployment assistance, food stamps and infrastructure projects. Third-quarter earnings shrank 17 percent for S&P 500 companies that have reported results, according to Bloomberg data. Profits for 2008 will drop an average 8.5 percent and rise 12 percent next year, based on a survey of analysts' estimates. Google Inc. lost 1.1 percent to $308. Citigroup Inc. analysts said online advertising growth may slow ``materially'' this quarter and lowered their 2008 through 2010 profit estimates for the operator of the most-used Internet search engine. To contact the reporter on this story: Lynn Thomasson in New York at lthomasson@bloomberg.net.

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