Investing.com - Wall Street futures pointed to a moderately lower open on Monday, as declining oil prices were expected to weigh on the energy sector and as investors remained cautious ahead of the Federal Reserve’s policy meeting this week.
The blue-chip Dow futures were down 0.09%, the S&P 500 futures eased 0.07%, while the tech-heavy Nasdaq 100 futures edged down 0.08%.
Energy stocks were set to be in focus as oil prices moved lower on Monday amid profit-taking they hovered near five-month highs on Friday.
Saudi Arabia was expected to announce a plan later Monday to diversify its economy away from oil production.
Microsoft (NASDAQ:MSFT) slipped 0.15% in pre-market trade after plummeting over 7% on Friday, when the tech giant said quarterly earnings were below analysts' expectations, while revenues were basically in line.
Alphabet Inc C (NASDAQ:GOOG) was also expected to remain on the downside, as shares dropped by 0.65% pre-market, after losing over 5% on Friday, due to a disappointing earnings report.
No major earnings reports were scheduled to be released on Monday.
Later Monday, the U.S. was to publish data on new home sales. Traders were also looking ahead to the Fed’s upcoming policy meeting, due to conclude on Wednesday for further indications on the pace and timing of future rate hikes.