Investing.com - U.S. stock futures pointed to a modestly lower open on Monday, as market participants were reluctant to extend last week’s rally ahead of data on retail sales and manufacturing activity in the New York-region later in the session.
Investors also looked ahead to Federal Reserve Chairman Ben Bernanke's semi-annual testimony to the U.S. Congress on Tuesday and Wednesday, amid ongoing speculation over whether the central bank will introduce more easing measures to stimulate the economy.
Ahead of the open, the Dow Jones Industrial Average futures pointed to a 0.2% drop, S&P 500 futures signaled a 0.2% decline, while the Nasdaq 100 futures indicated a 0.2% loss.
Investors were hesitant to make major moves ahead of a testimony by Federal Reserve Chairman Ben Bernanke later in the week, amid speculation over the possibility of more quantitative easing from the central bank.
Bernanke testifies to the Senate Banking Committee on Tuesday and to the House Financial Services panel on Wednesday.
Minutes of the Fed’s June policy-setting meeting released last week revealed that only a few board members thought that more asset purchases would be necessary.
Several other officials indicated that more action could be warranted only if growth slows, risks intensified or if inflation seemed likely to fall “persistently” below their goal.
The U.S. was to publish official data on retail sales and business inventories, as well as a report on manufacturing activity in New York later in the day.
Meanwhile, markets were also jittery after Chinese Premier Wen Jiabao warned over the weekend that China's economy has not yet entered a recovery and "difficulties may continue for some time."
He added that that policy makers were likely to introduce measures to boost growth in the second half of the year, according to the state-run Xinhua News Agency.
The comments followed government data released Friday showing China’s second quarter economic growth slowed to 7.6% from a year earlier, compared to 8.1% in the first quarter.
In earnings news, Citibank shares were 0.4% higher in pre-market trade ahead of the release of its closely-watched second quarter earnings report.
Shares in media holdings company Gannett were also expected to be active, as the company was set to release company earnings ahead of Monday’s opening bell.
Across the Atlantic, European stock markets were flat to lower. The EURO STOXX 50 dipped 0.3%, France’s CAC 40 dropped 0.25%, Germany's DAX eased 0.1%, while Britain's FTSE 100 was flat.
During the Asian trading session, Hong Kong's Hang Seng Index added 0.1%, while Japan’s Nikkei 225 remained closed for a public holiday.
Investors also looked ahead to Federal Reserve Chairman Ben Bernanke's semi-annual testimony to the U.S. Congress on Tuesday and Wednesday, amid ongoing speculation over whether the central bank will introduce more easing measures to stimulate the economy.
Ahead of the open, the Dow Jones Industrial Average futures pointed to a 0.2% drop, S&P 500 futures signaled a 0.2% decline, while the Nasdaq 100 futures indicated a 0.2% loss.
Investors were hesitant to make major moves ahead of a testimony by Federal Reserve Chairman Ben Bernanke later in the week, amid speculation over the possibility of more quantitative easing from the central bank.
Bernanke testifies to the Senate Banking Committee on Tuesday and to the House Financial Services panel on Wednesday.
Minutes of the Fed’s June policy-setting meeting released last week revealed that only a few board members thought that more asset purchases would be necessary.
Several other officials indicated that more action could be warranted only if growth slows, risks intensified or if inflation seemed likely to fall “persistently” below their goal.
The U.S. was to publish official data on retail sales and business inventories, as well as a report on manufacturing activity in New York later in the day.
Meanwhile, markets were also jittery after Chinese Premier Wen Jiabao warned over the weekend that China's economy has not yet entered a recovery and "difficulties may continue for some time."
He added that that policy makers were likely to introduce measures to boost growth in the second half of the year, according to the state-run Xinhua News Agency.
The comments followed government data released Friday showing China’s second quarter economic growth slowed to 7.6% from a year earlier, compared to 8.1% in the first quarter.
In earnings news, Citibank shares were 0.4% higher in pre-market trade ahead of the release of its closely-watched second quarter earnings report.
Shares in media holdings company Gannett were also expected to be active, as the company was set to release company earnings ahead of Monday’s opening bell.
Across the Atlantic, European stock markets were flat to lower. The EURO STOXX 50 dipped 0.3%, France’s CAC 40 dropped 0.25%, Germany's DAX eased 0.1%, while Britain's FTSE 100 was flat.
During the Asian trading session, Hong Kong's Hang Seng Index added 0.1%, while Japan’s Nikkei 225 remained closed for a public holiday.