Investing.com - U.S. stock futures pointed to a lower open on Monday, as renewed concerns over the handling of the debt crisis in the euro zone after last week’s economic summit dampened market sentiment.
Ahead of the open, the Dow Jones Industrial Average futures pointed to a fall of 0.63%, S&P 500 futures signaled a 0.75% decline, while the Nasdaq 100 futures indicated a 0.56% loss.
European Union leaders agreed Friday to implement stricter budgetary rules across the euro zone and to provide EUR200 billion in loans to the International Monetary Fund to assist countries with debt problems.
But investors remained jittery after the European Central Bank indicated that it had no plans to increase its bond purchasing program, capping its weekly bond purchases at EUR20 billion.
Earlier Monday, Standard & Poor’s chief European economist said Friday’s agreement was a significant step in resolving a "crisis of confidence,” but warned that time is running out and more action is needed.
Chemical company DuPont was one of the top losers with shares plunging 3.18%, while Costco Wholesale declined 1.62%.
On the upside, U.S. telecom company Adtran jumped 3.01% after the struggling equipment maker Nokia Siemens Networks agreed to sell its fixed line Broadband Access business unit to the U.S. firm as part of a revamp of its operations.
Shares in ConocoPhillips were up 1.31% after the company made a gas find in the southern North Sea near BP's Ula oil and gas field.
Boeing also saw shares climb 2.51% as Abu Dhabi's Etihad Airways said in a statement on Monday it will buy 12 planes from the U.S. firm, in a deal valued at USD2.8 billion at current list prices.
Elsewhere, financial stocks were sharply higher, led by Citigroup whose shares surged 3.68%. JP Morgan jumped 2.98% and Bank of America climbed 2.33%, while Goldman Sachs advanced 1.53%.
Across the Atlantic, European stock markets were sharply lower. The EURO STOXX 50 tumbled 1.41%, France’s CAC 40 dropped 0.91%, Germany's DAX plummeted 1.47%, while Britain's FTSE 100 retreated 0.49%.
During the Asian trading session, Hong Kong's Hang Seng Index edged 0.15% higher, while Japan’s Nikkei 225 Index gained 1.4%.
Later in the day, the U.S. was to publish official data on the federal budget balance.
Ahead of the open, the Dow Jones Industrial Average futures pointed to a fall of 0.63%, S&P 500 futures signaled a 0.75% decline, while the Nasdaq 100 futures indicated a 0.56% loss.
European Union leaders agreed Friday to implement stricter budgetary rules across the euro zone and to provide EUR200 billion in loans to the International Monetary Fund to assist countries with debt problems.
But investors remained jittery after the European Central Bank indicated that it had no plans to increase its bond purchasing program, capping its weekly bond purchases at EUR20 billion.
Earlier Monday, Standard & Poor’s chief European economist said Friday’s agreement was a significant step in resolving a "crisis of confidence,” but warned that time is running out and more action is needed.
Chemical company DuPont was one of the top losers with shares plunging 3.18%, while Costco Wholesale declined 1.62%.
On the upside, U.S. telecom company Adtran jumped 3.01% after the struggling equipment maker Nokia Siemens Networks agreed to sell its fixed line Broadband Access business unit to the U.S. firm as part of a revamp of its operations.
Shares in ConocoPhillips were up 1.31% after the company made a gas find in the southern North Sea near BP's Ula oil and gas field.
Boeing also saw shares climb 2.51% as Abu Dhabi's Etihad Airways said in a statement on Monday it will buy 12 planes from the U.S. firm, in a deal valued at USD2.8 billion at current list prices.
Elsewhere, financial stocks were sharply higher, led by Citigroup whose shares surged 3.68%. JP Morgan jumped 2.98% and Bank of America climbed 2.33%, while Goldman Sachs advanced 1.53%.
Across the Atlantic, European stock markets were sharply lower. The EURO STOXX 50 tumbled 1.41%, France’s CAC 40 dropped 0.91%, Germany's DAX plummeted 1.47%, while Britain's FTSE 100 retreated 0.49%.
During the Asian trading session, Hong Kong's Hang Seng Index edged 0.15% higher, while Japan’s Nikkei 225 Index gained 1.4%.
Later in the day, the U.S. was to publish official data on the federal budget balance.