Markets

US Futures Slip as Post-Election Italy Rattles Markets

US stock futures slipped on Monday as signs of further political instability in post-election Italy lessened investors' appetite for risks.

Oil prices nudged lower with global benchmark Brent Crude down 0.11% and US crude West Texas Intermediate down 0.02% recently as predictions of a major spike in US oil production overshadowed reports of supply disruptions in Libya.

At 9:45 am, the final February reading for the PMI Services index is expected to come in at 55.9 vs prior month's level of 53.3, according to data compiled by Econoday.

At 10 am, the ISM non-manufacturing index is expected to slow a bit in February to 58.8 vs January's robust 59.9.

Federal Reserve Vice Chairman Randal Quarles is scheduled to speak in a banking forum in Washington, DC.

In equities, shares of XL Group ( XL ) surged 30% pre-bell after the company agreed to a $15.3 billion takeover by French insurer AXA.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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