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Stocks- U.S. Futures Point to Flat Open

Published 2017-10-30, 06:59 a/m
Updated 2017-10-30, 07:10 a/m
© Reuters.  U.S. futures were flat on Monday.

© Reuters. U.S. futures were flat on Monday.

Investing.com – U.S. futures inched down on Monday as investors wait for the last round of earnings releases and economic data later in the week.

The S&P 500 futures was down six points or 0.25% as of 7:01 AM ET (11:01 AM GMT) while Dow futures fell 52 points or 0.22%. Tech heavy Nasdaq 100 futures decreased almost five points or 0.08%.

Among the biggest winners in premarket trading was General Electric (NYSE:GE), which rose 0.53% while Chinese e-commerce giant Alibaba (NYSE:BABA) increased 0.54% and semiconductor STMicroelectronics NV ADR (NYSE:STM) jumped 2.75%.

Meanwhile, retail companies were among the worst performers the morning bell. Retail firm Macy’s Inc (NYSE:M), which slumped 3.00% after it settled on Friday with the Environment Protection Agency over hazardous waste materials. Retail company JC Penney Company Inc Holding (NYSE:JCP) was also down 5.13% after it slashed its 2017 forecasts. The department store’s shares fell nearly 25% on Friday after the news. Elsewhere Under Armour Inc C (NYSE:UA) slipped 5.36% amid production delays of its signature shoe.

In economic news, personal income and outlays will be released at 8:30 AM ET (12:30 PM GMT) while the Federal Reserve’s Texas personal consumption expenditure survey is set to be published at 10:30 AM ET (2:30 PM GMT).

Meanwhile Loews (NYSE:L), AvalonBay Communities Inc (NYSE:AVB), and Dominion Resources Inc (NYSE:D) are some of the companies expected to release their latest earnings on Monday.

European shares were flat on Monday, while Spain rebounded. Germany’s DAX inched forward one and a half points or 0.01% while in France the CAC 40 flat and in London, the FTSE 100 fell 16 points or 0.22%. Meanwhile the pan-European Euro Stoxx 50 rose two points or 0.06% while Spain’s IBEX 35 jumped 136 points or 1.34%.

In commodities, gold futures inched forward 0.13% to $1,273.39 a troy ounce while crude oil futures fell 0.13% to $53.80 a barrel. The U.S. dollar index, which measures the greenback against a basket of six major currencies, edged down 0.20% to 94.53.

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