U.S. stock futures were slightly lower on Monday as investors adopted a wait and watch policy ahead of central banks? meetings later this week, hoping to get a clear picture on what exactly will be offered by them to shore up global economy.
At last check, futures on the Dow Jones Industrial Average edged down 16 points, or 0.1%, to 13017. S&P 500 futures slipped 2.7 points to 1379.8, while Nasdaq-100 futures gained 0.25 point to 2642.25
Following European Central Bank (ECB) President, Mario Draghi?s pledge to do whatever it takes to preserve the euro and the euro zone, global equities rallied last week. Now, as the ECB meets this week to discuss over its monetary policy, market participants will be hoping that policy makers will offer clear directions on how they envisage bringing back the troubled euro zone back on track.
In the U.S. expectations are widespread that the Federal Reserve might offer some monetary easing, especially after fragile U.S GDP data which showed that economic activities in the second quarter lost significant momentum compared to first three months. Fed?s meeting is scheduled to begin from Tuesday and will last until Wednesday.
In Asia, equities ended higher bolstered by ECB President?s comments while European equities also traded in green territory on Monday. The Pan European Stoxx 600 Index was up 1%, at last check.
In the U.S. economic front, Federal Reserve Bank of Chicago is scheduled to release Chicago Fed Midwest Manufacturing Index for June at 8:30 a.m. Eastern.? The reading was 93.4 for May.
Earnings season continues on Monday as Anadarko Petroleum (NYSE:APC), Franklin Resources (NYSE:BEN) and Eastman Chemical Company (NYSE: EMN) are expected to announce quarterly results.
Meanwhile, in some other markets, Nymex crude-oil futures were flat on Monday at $90.13 a barrel in electronic trade. Gold futures added 50 cents to trade at $1,618.50 an ounce as rising expectations of further monetary easing raised metal?s inflation hedge appeal.
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Post Written By: Ed Liston Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht. |
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