US STOCKS-Wall St set to open modestly lower as global growth fears persist

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By Shreyashi Sanyal

March 25 (Reuters) - Wall Street's main indexes were set toopen slightly lower on Monday, as investors struggled to shrugoff global growth fears even as a report showed that PresidentDonald Trump's campaign did not collude with Russia.

S&P 500 futures initially rose on Sunday after SpecialCounsel Robert Mueller found no evidence of collusion, but thereport left unresolved the issue of whether Trump obstructedjustice by undermining the investigations that have dogged hispresidency. urn:newsml:reuters.com:*:nL1N21B02H

That followed the main indexes biggest one-day percentagedeclines since Jan. 3 on Friday, triggered by weak factory datafrom the United States, Europe and Japan that also caused theinversion of U.S. Treasury yield curve for the first time since2007. urn:newsml:reuters.com:*:nL1N2190LR

An inverted yield curve is widely seen as a leadingindicator of recession.

"Markets are not overcoming the concerns of the globaleconomic climate and the fact that the 3-month treasury yieldsrose above that of the 10-year notes, creating an inversion,"said Robert Pavlik, chief investment strategist and seniorportfolio manager at SlateStone Wealth LLC in New York.

"The concerns of global growth, without a China-U.S. tradedeal, will linger in the background and continue to weigh onmarkets."

Top U.S. officials travel to Beijing for the latest round ofhigh-level talks, which are scheduled to start on March 28. urn:newsml:reuters.com:*:nL1N21A08A

Meanwhile, a survey from Germany, Europe's largest economy,showed that business morale improved unexpectedly in March aftersix consecutive drops, boosting sentiment and helping yields onthe 10-year bonds US10YT=RR to move back above the three-monthrates US3MT=RR . US/urn:newsml:reuters.com:*:nL8N21C20A

At 8:36 a.m. ET, Dow e-minis 1YMc1 were down 24 points, or0.09 percent. S&P 500 e-minis ESc1 were down 3 points, or 0.11percent and Nasdaq 100 e-minis NQc1 were down 17.75 points, or0.24 percent.

Among stocks trading premarket, Apple IncAAPL.O climbed0.9 percent ahead of an event where the company is widelyexpected to launch its video streaming service. The event isscheduled to start at 1 p.m. ET. urn:newsml:reuters.com:*:nL1N2190GT

Boeing CoBA.N rose 0.8 percent after the planemaker saidit will brief pilots and regulators this week on software andtraining updates for its 737 MAX aircraft, with EthiopianAirlines and Qatar Airways also expressing confidence in thecompany despite a recent crash. urn:newsml:reuters.com:*:nL3N21C0FP

Akamai TechnologiesAKAM.O fell 4.4 percent after a reportbrokerage Deutsche Bank had downgraded the stock to "sell" from"hold".

Viacom Inc'sVIAB.O shares rose 3.8 percent after companyand AT&T IncT.N renewed their contract to continue carriageof Viacom's services. AT&T shares rose 0.3 percent. urn:newsml:reuters.com:*:nL3N21C2N7 (Reporting by Shreyashi Sanyal and Amy Caren Daniel inBengaluru; Editing by Sriraj Kalluvila) ((Shreyashi.Sanyal@thomsonreuters.com; +1 646 223 8780 ;Reuters Messaging:Shreyashi.Sanyal.thomsonreuters.com@reuters.net))

This article appears in: Stocks , World Markets , Politics
Referenced Symbols: AAPL ,

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