U.S. stock-index futures fell, with the Standard & Poor’s 500 Index headed for its biggest weekly drop in two months, as oil extended a slump and Chinese industrial production missed estimates. Futures on the S&P 500 (SPX) expiring in March lost 0.5 percent to 2,013.60 at 6:56 a.m. in New York, falling further after the International Energy Agency cut its forecast for global oil demand for the fourth time in five months. The benchmark gauge is poised for its first weekly decline since October. Dow Jones Industrial Average contracts decreased 99 points, or 0.6 percent, to 17,410. “It’s an oil-plunge story, which has some believing demand is slacking,� said Manish Singh, who helps oversee $2 billion as head of investments at Crossbridge Capital in London. “These are very short-term market vols before things stabilize. I expect Brent oil to bottom around the $60 level. There is some more pain but we are getting close to equilibrium prices.� More than $1 trillion was erased from the value of global equities this week as oil prices tumbled, raising concern over the strength of the global economy. Oil extended losses today amid speculation that OPEC’s biggest members will defend market share against U.S. shale producers. The Chicago Board Options Exchange Volatility Index, a measure of the cost of options on the S&P 500 known as the VIX, has jumped 70 percent this week, on track for its biggest weekly rally in more than four years. China Production Stocks around the world fell after November Chinese factory production slowed more than estimated. Data showing a 7.2 percent gain from the year before missed the 7.5 percent median estimate in a Bloomberg News survey. A report at 9:55 a.m. in Washington may show consumer confidence improved this month. The Thomson Reuters/University of Michigan preliminary sentiment index increased to 89.5 in December, from a final reading of 88.8 in October, according to economists surveyed. Adobe Systems Inc. rallied 7.5 percent in early New York trading. The software maker reported sales that topped estimates and agreed to buy stock-photography provider Fotolia LLC for about $800 million. LendingClub Corp. climbed 4.6 percent after surging 56 percent yesterday in its first day of trading. The peer-to-peer lending company priced shares at $15 at its initial public offering on Dec. 10. GoPro Inc. added 2.8 percent after shares of the maker of wearable cameras lost 12 percent in the last two days. Staples Inc. lost 3 percent. Shares of the owner of the U.S. office-supplies chain surged 8.7 percent yesterday after people familiar with the matter said activist investor Starboard Value plans to push for a merger with Office Depot Inc. To contact the reporter on this story: Inyoung Hwang in London at ihwang7@bloomberg.net To contact the editors responsible for this story: Cecile Vannucci at cvannucci1@bloomberg.net Trista Kelley, Alan Soughley

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