U.S. stock futures fell, indicating the Standard & Poor's500 Index may pare its biggest monthly rally since 1974, asinvestors awaited China's response to the European request formoney to boost the bailout fund.

Alcoa Inc., the largest U.S. aluminum producer, fell in earlyNew York trading. Chevron Corp. slid after Bank of America Corp.cut its recommendation on the shares. JPMorgan Chase & Co., thebiggest U.S. lender by assets, led declining shares in Europeantrading.

Futures on the S&P 500 expiring in December fell 0.9 percentto 1,269.90 at 7:11 a.m. in New York. The S&P 500 advanced forthe last four weeks and has climbed 14 percent this month. Futureson the Dow Jones Industrial Average retreated 84, or 0.7 percent,to 12,084 today.

“Investors are waiting for confirmation of help from emergingcountries, notably China, regarding the bailout plan,” said ArnaudScarpaci, a fund manager at Agilis Gestion SA in Paris, whichoversees about $110 million. “There are also some who are lockingin profits after last week's gain.”

The Group of 20 leaders convene Nov. 3-4 in Cannes, France, aweek after euro-area authorities pledged to magnify the capacity oftheir rescue fund to 1 trillion euros ($1.4 trillion) and lookbeyond their borders for help in doing so.

Stocks gained last week after the bailout fund was expanded andinvestors agreed to a voluntary writedown of 50 percent on Greekdebt. The S&P 500 had fallen for five consecutive monthsthrough September, driven lower by concern the debt crisis wouldcurb global growth. The measure has rebounded 17 percent from thisyear's low on Oct.3. Better-than-estimated U.S. economic reportspushed the Citigroup Economic Surprise Index above zero for thefirst time since April.

“The initial euphoria over what appears to be a near-termsolution in Europe is fading as investors now turn their attentionto what all this means for long-term growth projections andasset-allocation decisions,” said Michael Gayed, chief investmentstrategist at Pension Partners LLC in New York.

French President Nicolas Sarkozy reached out last week to hisChinese counterpart Hu Jintao to build support for an enlargedrescue fund.

Equities have also climbed this month after the U.S. economyexpanded in the third quarter at the fastest pace in a year, asgains in consumer spending and business investment helped support arecovery on the brink of faltering. Separate data showed thatconsumer confidence unexpectedly rose in October, while fewerAmericans filed for unemployment assistance in the week ended Oct.22.

About three quarters of the S&P 500 companies that reportedearnings since Oct. 11 beat analysts' projections, according toBloomberg data. Earnings have surpassed estimates by an average 5.8percent.

Alcoa slipped 2.4 percent to $11.29 in early New York trading.Chevron retreated 1.5 percent to $107.99. The stock was cut to“neutral” from “buy” at Bank of America. JPMorgan slid 1.5 percentto $36.16 in Germany.

Bloomberg