News Column

Futures Pointing To Roughly Flat Open On Wall Street

June 30, 2014

WASHINGTON (Alliance News) - After turning in a mixed performance last week, stocks may continue to experience choppy trading early on Monday. The major index futures are currently pointing to a roughly flat open for the markets, with the Dow futures down by just 5 points.

Continued uncertainty about the outlook for the markets may keep traders on the sidelines ahead of the release of some key economic data later in the week.

Traders are likely to keep a close eye on the Labor Department's monthly jobs report, which is due to be released on Thursday due to the holiday on Friday.

Reports on manufacturing and service sector activity, private sector employment, and international trade may also attract some attention in the coming days.

Not long after the open, trading could be impacted by the release of a report from MNI Indicators on business activity in the Chicago area.

Economists expect the Chicago business barometer to dip to 64.0 in June from 65.5 in May, although a reading above 50 would indicate continued growth.

The National Association of Realtors is also scheduled to release its report on pending home sales in the month of May. The pending home sales index is expected to rise by 1.0%.

A pending home sale is one in which a contract was signed but not yet closed. Normally, it takes four to six weeks to close a contracted sale.

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Source: Alliance News