RTRS: U.S. futures sink; eyes on banks, autos, CPI, FOMC
* Dow Jones futures DJc1 fall 1.4 percent by 0930 GMT on Wednesday, S&P 500 futures SPc1 down 1.5 percent and Nasdaq futures NDc1 down 2.2 percent -- pointing to a reversal on Tuesday's gains. [ID:nN18290831]
* Focus on banks after Citigroup (C.N: Quote, Profile, Research, Stock Buzz) share price at one point on Tuesday fell to 13-year low below $8; and Bank of America's (BAC.N: Quote, Profile, Research, Stock Buzz) chief executive Kenneth Lewis said the U.S. economy will get worse before it improves. Lewis forecast record losses for the U.S. credit card industry. [ID:nN18270356] [ID:nN18284250]
* Top auto industry executives seeking a politically contested $25 billion aid package told Congress the sector was teetering on the brink of disaster; General Motors (GM.N: Quote, Profile, Research, Stock Buzz) head Rick Wagoner said: "It's about saving the U.S. economy from a catastrophic collapse." [ID:nN18548335] [ID:nN18253302]
* Separately, chief executives of leading U.S. companies called on Tuesday for a fiscal stimulus package worth at least $300 billion and urged president-elect Barack Obama to swiftly name his economic team. [ID:nN18295083]
* Tax preparation software maker Intuit (INTU.O: Quote, Profile, Research, Stock Buzz) is the only S&P 500 .SPX company scheduled to report quarterly results. [ID:nL29133957]
* Also in diaries: October CPI and October housing starts, both at 1330 GMT, Energy Information Administration's weekly oil inventory report, at 1535 GMT, FOMC Oct. 28-29 meeting minutes, at 1900 GMT.
Reuters GLOBAL MARKETS report [ID:nLJ421374] (Reporting by Peter Starck; Editing by Greg Mahlich)