News Column

Futures Pointing To A Roughly Flat Open On Wall Street

June 23, 2014

WASHINGTON (Alliance News) - After turning in a strong performance last week, stocks may show a lack of direction in early trading on Monday. The major index futures are currently pointing to a roughly flat open for the markets, with the Dow futures down by just 2 points.

Uncertainty about the near-term outlook for the markets may lead to choppy trading on Wall Street after last week's gains lifted the Dow and the S&P 500 to record closing highs. The tech-heavy Nasdaq also reached its best closing level since 2000.

While upbeat manufacturing data out of China may generate some positive sentiment, any early buying interest is likely to be offset by worries about the situation in Iraq.

Not long after the open, trading could be impacted by the release of a report from the National Association of Realtor on existing home sales in the month of May.

Economists expect existing home sales to climb to an annual rate of 4.75 million in May from the 4.65 million reported for April.

Several other key reports are scheduled to be released later in the week, including data on new home sales, durable goods orders and personal income and spending.

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Source: Alliance News

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