Futures point to bounce for Wall Street
Wall Street was set for a bounce on Monday, following a sharp fall in the previous session, when disappointing revenue from bellwethers reporting results, and downbeat consumer sentiment data, hurt equities.
* At 10:03 a.m. ET, futures for the Dow Jones, the S&P 500 and Nasdaq were all up 0.4 percent.
* The FTSEurofirst 300 <.FTEU3> index of leading European shares was up 0.1 percent at 1,014.02 points.
* Bailed-out insurer American International Group Inc (AIG) named former Prudential Chief Executive Mark Tucker as head of its Asia life insurance business, AIA, and said it would seek to list AIA on the Hong Kong stock exchange.
* BP said it had spent $3.95 billion so far on efforts to tackle its leaking oil well in the Gulf of Mexico and that it aims to permanently kill the well in the first half of August.
* Halliburton , the No. 2 oilfield services company, kicks off the quarterly earnings reports for a sector that has been hurt by the blown-out well BP well in the Gulf of Mexico, on which the company did some work.
Investors will be watching for any update on the deepwater drilling moratorium, and signs of knock-on effects elsewhere. Noble Corp, the third-largest offshore rig contractor also reports.
* A number of computer and tech-related companies are reporting after the closing bell. IBM is in danger of missing average Wall Street estimates for its second-quarter revenue as the weaker euro dents sales in Europe, which counts for about 30 percent of its revenue. Texas Instruments is also reporting.
* Plans by U.S. firms to increase payrolls over the next six months have risen to the highest level since January 2008, but some service sector companies still see layoffs, according to a survey released on Monday. The survey by the National Association for Business Economics also showed strong demand in the goods-producing sector, while service sector businesses reported a softening in their expansion rates.
* The NAHB Index, measuring sentiment on home building, is set to fall to 16 for July, from 17 in June, according to a Reuters poll.
* Later in the week, economic events include an appearance by Federal Reserve chairman Ben Bernanke on Capitol Hill, when he presents the Fed's semiannual monetary report.
* Goldman Sachs Group Inc and Morgan Stanley are among companies reporting later in the week.
Dismal consumer sentiment data and anemic revenues from GE and two big banks slammed U.S. stocks on Friday.
* The Dow Jones industrial average <.DJI>, the Standard & Poor's 500 Index <.SPX> and the Nasdaq Composite Index <.IXIC> fell between 2.5 and 3.1 percent. Bank of America , the biggest U.S. bank, slid more than 9 percent and the S&P financial index <.GSPF> dropped 4.4 percent.
(Reporting by Brian Gorman; Editing by Hans Peters)
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