U.S. Stocks Point to Flat Open
U.S. stock futures were steady on Monday, pointing to a flat start, after indexes closed at a 19 month low on Friday following data that showed a second straight drop in monthly employment.
S&P 500 futures fell eight-tenths of a point to 1,292.0 after hitting the lowest close on Friday since August 2006. The Dow industrial futures fell 21 points, while Nasdaq 100 futures gained half-point to 1,709.25.
Friday's February employment report showed a drop of 63,000 workers from non-farm payrolls, which dampened existing concern over the strength of the world's largest economy.
Looking ahead, economic data on wholesale inventories for January is due for release at 10 a.m. Eastern.
Companies reporting results include sports apparel retailer Foot Locker and fast-food chain McDonald's , along with private-equity firm Blackstone and Texas Instruments, and home constructor Hovnanian Enterprises, which releases a mid-quarter update.
Overseas, the Nikkei 225 lost nearly 2 percent in Tokyo and the FTSE 100 down 0.4 percent in London.
Malaysian stock market lost 10 percent after the ruling coalition lost its two-thirds majority for the first time in almost four decades.
Yields on 10-year Treasury bonds fell to 3.49 percent, and the dollar dropped against the Japanese yen, down 0.8 percent to 101.91 yen.
© Copyright IBTimes 2024. All rights reserved.