Investing.com - U.S. stock futures pointed to a mixed open on Monday, as markets consolidated gains after U.S. equities hit multi-year highs last week, while investors paused to reassess the global growth outlook.
Ahead of the open, the Dow Jones Industrial Average futures pointed to a modest decline of 0.15%, S&P 500 futures signaled a 0.1% decrease, while the Nasdaq 100 futures indicated a gain of 0.3%.
The Nasdaq composite closed above 3,000 for the first time since December 2000 last week, while the S&P 500 closed above 1,400 on Friday and the Dow settled close to the highest level since December 2007.
While positive economic data released last week in the U.S. pointed to further evidence of an improving economy, risks still remain outside the U.S.
Zhu Min, deputy managing director of the International Monetary Fund, said earlier that global economic growth will slow this year, with risks still to the downside as Europe's financial markets remain fragile.
Investors also focused on developments in the euro zone. Greece is expected to receive an installment of an emergency international bailout later in the day. However, worries about Europe's debt crisis remain, amid renewed concerns over the fiscal health of Spain and Portugal.
With little major economic or corporate news slated for Monday, trading was expected to be choppy.
Market attention shifted to Apple, which added 3.6% in premarket trade. The company on Sunday said Chief Executive Officer Tim Cook and Chief Financial Officer Peter Oppenheimer would host a call with investors at 9 a.m. Eastern time, just ahead of the U.S. open.
The purpose of the call will be “to announce the outcome of the company’s discussions concerning its cash balance,” Apple said in a statement.
According to market analysts, the company was expected to announce it will spend about USD14 billion of its USD98 billion cash hoard to get a dividend yield in the 2.5% area.
Meanwhile, shares in Domino’s Pizza climbed 3.5% after the company completed its recapitalization and declared a dividend of USD3 a share.
In deal news, U.S. shipping giant United Parcel Service added 0.75% after saying it has reached an agreement to acquire Dutch package shipper TNT Express in a deal valued at nearly USD6.8 billion.
Shares in software developer Adobe Systems could be active, as the company was set to release company earnings after Monday’s closing bell.
Across the Atlantic, European stock markets slumped, as markets consolidated gains after European equities hit their highest level since late July on Friday.
The EURO STOXX 50 shed 0.35%, France’s CAC 40 dropped 0.6%, Germany's DAX fell 0.55%, while Britain's FTSE 100 dipped 0.3%.
During the Asian trading session, Hong Kong's Hang Seng Index dropped 0.95%, while Japan’s Nikkei 225 Index eased up 0.1%, as exporters rose on the back of a weaker yen.
Japanese equities have been boosted by persistent weakness in the yen, which traded close to an 11-month low against the U.S. dollar, while shares in Hong Kong turned lower towards the end of the trading session, dragged down by weakness in property developers in mainland China.
Later in the day, the U.S. National Association of Home Builders was to publish a report on home sales.
Ahead of the open, the Dow Jones Industrial Average futures pointed to a modest decline of 0.15%, S&P 500 futures signaled a 0.1% decrease, while the Nasdaq 100 futures indicated a gain of 0.3%.
The Nasdaq composite closed above 3,000 for the first time since December 2000 last week, while the S&P 500 closed above 1,400 on Friday and the Dow settled close to the highest level since December 2007.
While positive economic data released last week in the U.S. pointed to further evidence of an improving economy, risks still remain outside the U.S.
Zhu Min, deputy managing director of the International Monetary Fund, said earlier that global economic growth will slow this year, with risks still to the downside as Europe's financial markets remain fragile.
Investors also focused on developments in the euro zone. Greece is expected to receive an installment of an emergency international bailout later in the day. However, worries about Europe's debt crisis remain, amid renewed concerns over the fiscal health of Spain and Portugal.
With little major economic or corporate news slated for Monday, trading was expected to be choppy.
Market attention shifted to Apple, which added 3.6% in premarket trade. The company on Sunday said Chief Executive Officer Tim Cook and Chief Financial Officer Peter Oppenheimer would host a call with investors at 9 a.m. Eastern time, just ahead of the U.S. open.
The purpose of the call will be “to announce the outcome of the company’s discussions concerning its cash balance,” Apple said in a statement.
According to market analysts, the company was expected to announce it will spend about USD14 billion of its USD98 billion cash hoard to get a dividend yield in the 2.5% area.
Meanwhile, shares in Domino’s Pizza climbed 3.5% after the company completed its recapitalization and declared a dividend of USD3 a share.
In deal news, U.S. shipping giant United Parcel Service added 0.75% after saying it has reached an agreement to acquire Dutch package shipper TNT Express in a deal valued at nearly USD6.8 billion.
Shares in software developer Adobe Systems could be active, as the company was set to release company earnings after Monday’s closing bell.
Across the Atlantic, European stock markets slumped, as markets consolidated gains after European equities hit their highest level since late July on Friday.
The EURO STOXX 50 shed 0.35%, France’s CAC 40 dropped 0.6%, Germany's DAX fell 0.55%, while Britain's FTSE 100 dipped 0.3%.
During the Asian trading session, Hong Kong's Hang Seng Index dropped 0.95%, while Japan’s Nikkei 225 Index eased up 0.1%, as exporters rose on the back of a weaker yen.
Japanese equities have been boosted by persistent weakness in the yen, which traded close to an 11-month low against the U.S. dollar, while shares in Hong Kong turned lower towards the end of the trading session, dragged down by weakness in property developers in mainland China.
Later in the day, the U.S. National Association of Home Builders was to publish a report on home sales.