* President Obama lays out $447 billion jobs plan
* Bank of America discussing about 40,000 job cuts
* TI warns on profit, McDonald's August sales disappoint
* Futures off: S&P 2.1 pts, Dow 53 pts, Nasdaq 2.25 pts
* For up-to-the-minute market news see [STXNEWS/US] (Updates prices, adds quote)
By Ryan Vlastelica
NEW YORK, Sept 9 (Reuters) - U.S. stock index futures fell on Friday as investors remained skeptical about how much of President Barack Obama's $447 billion proposal to generate U.S. jobs would make it through Congress.
Concerns also lingered about the euro zone's sovereign debt crisis on worries that policymakers were not taking enough action to boost Europe's economies.
Finance chiefs from the Group of 7 richest nations are set to meet on Friday, and the group is under heavy pressure to take action to revive flagging economic growth and calm the biggest confidence crisis in financial markets since the global credit crunch. For details, see [ID:nN1E78728T]
Obama challenged Congress on Thursday to enact tax cuts and new spending to revive a stalled job market, but he faces an uphill fight to win over Republicans.
"The speech was positive, but there are questions about whether it can get through Congress and how it will all be paid for," said Scott Brown, chief economist at Raymond James in St. Petersburg, Florida. "At the same time, while we initially rose on the plan, Europe remains the big, big question for markets."
In China, inflation pulled back in August from a three-year high, while economic activity slowed, underlining expectations the central bank can hold off on further monetary policy tightening in the face of a global economic slowdown. [ID:nL3E7K905I]
S&P 500 futures
Bank of America Corp
A number of brokerages, including Jefferies, cut price
targets on Texas Instruments Inc
McDonald's Corp
U.S. stocks closed sharply lower on Thursday after Federal Reserve Chairman Ben Bernanke gave no indications that new stimulus measures were in the works to boost the flagging economy. (Editing by Padraic Cassidy)