News Column

Futures Pointing To Lower Open On Wall Street

July 7, 2014



WASHINGTON (Alliance News) - After turning in a strong performance last week, stocks may give back some ground in early trading on Monday. The major index futures are currently pointing to a lower open for the markets, with the Dow futures down by 34 points.

Profit taking is likely to contribute to any early weakness on Wall Street following the recent upward move by the markets.

Last week's gains lifted the Dow and the S&P 500 to new record highs, while the Nasdaq reached its best levels since 2000.

Worries about the outlook for interest rates may also weigh on the markets following last Thursday's much better than expected jobs data.

Nonetheless, trading activity may be somewhat subdued amid the absence of any major US economic reports on the day.

The economic calendar remains sparse throughout the week, although traders are likely to keep an eye on several speeches by Federal Reserve officials as well as the minute of the latest Fed meeting.



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Source: Alliance News


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