Back to Main

U.S. futures steady ahead of ISM report; Dow Jones up 0.04%

Posted: 12/2/2013 6:46:00 AM
Referenced Stocks: - U.S. stock futures pointed to a steady open on Monday, as markets were eyeing the release of U.S. manufacturing data later in the day, while an upbeat Chinese report lent some support.

Ahead of the open, the Dow Jones Industrial Average futures pointed to a 0.04% rise, S&P 500 futures signaled a 0.01% gain, while the Nasdaq 100 futures indicated a 0.18% increase.

A report earlier showed that China's final HSBC PMI inched up to 50.8 in November, up from a preliminary reading 50.4 and above expectations for a reading of 50.5.

The data was published one day after a government report showed that China's manufacturing PMI held steady at an 18-month high of 51.4 in November, compared to forecasts for a decline to 51.1.

Retailers were expected to be in focus, after the first spending decline on a Black Friday weekend since 2009 reinforced projections for a lackluster holiday.

According to the National Retail Federation, purchases at stores and websites fell 2.9% to USD57.4 billion during the four days beginning November 28.

Separately, advanced 0.73% in pre-market trade amid reports the company is testing drones to deliver goods in a move to improve efficiency and speed in getting products to consumers.

In the tech sector, Apple climbed 0.41%, still supported by last week's reports that the company sold three of every four smartphones in Japan in October after the country's largest carrier, NTT Docomo, began carrying the iPhone. Apple won 76% of Japanese smartphone sales in October.

Other stocks likely to be active included BP, after the Financial Times reported that the oil giant expects a surge in compensation payments for the 2010 Deepwater Horizon disaster, after a near-two month slowdown.
The oil giant dipped 0.04% in early trading.

Across the Atlantic, European stock markets were mixed to lower. The EURO STOXX 50 shed 0.42%, France's CAC 40 slid 0.37%, Germany's DAX inched up 0.01%, while Britain's FTSE 100 retreated 0.70%.

During the Asian trading session, Hong Kong's Hang Seng Index climbed 0.66%, while Japan's Nikkei 225 Index eased 0.04%.

Later in the day, Federal Reserve Chairman Ben Bernanke was to speak at an event in Washington, while the Institute of Supply Management is to release its manufacturing PMI. offers an extensive set of professional tools for the financial markets.
Read more News on and download the new Stocks & Finance App for Android!