UPDATED 7:25 ET

STOCKS – European stocks fell for a second day, with the benchmark index heading for its biggest weekly drop in almost a month, as investors speculated that equity gains have overshot the earnings outlook. U.S. index futures were little changed, while Asian shares slid.

BONDS – Treasuries headed for a weekly gain, with 10-year yields dropping the most in a month, after the Federal Reserve damped speculation policy makers are preparing to raise interest rates.

COMMODITIES – Gold traded below a two-week high in London as investors weighed signs of slowing demand from China against the outlook for U.S. stimulus and tension in Ukraine.

CURRENCIES – The dollar headed for its biggest weekly decline against the euro in six months as Federal Reserve minutes released this week damped bets U.S. policy makers are moving toward raising interest rates.

ECONOMIC DATA – US PPI m/m due at 8:30, Prelim UoM Consumer Sentiment at 9:55 ET, G20 Meetings all day.