Investing.com - U.S. stock futures pointed to a mixed open on Monday, as concerns over surging borrowing costs in Spain weighed, while optimism linked to the results of Greece’s weekend elections began to fade.
Ahead of the open, the Dow Jones Industrial Average futures pointed to a decline of 0.26%, S&P 500 futures signaled a 0.21% fall, while the Nasdaq 100 futures indicated a 0.03% rise.
Market sentiment strengthened earlier, after political parties supporting Greece's international bailout were to begin forging a government on Monday, after an election victory over radical leftists staved off the prospect of the debt-laden country leaving the euro.
Conservative New Democracy leader Antonis Samaras called for broad support after winning Sunday's election over the radical Syriza party, which had threatened to cancel the aid deal in defiance of the country's lenders.
But investors remained concerned over the handling of Greece’s financial crisis after Germany’s Foreign Minister said the substance of Athens’ reform program remained non-negotiable.
Meanwhile, the yield on Spanish 10-year bonds climbed earlier to a euro-era high of 7.13%, above the critical 7% threshold which prompted bailouts in Greece, Ireland and Portugal.
Metal companies were expected to be active, such as Steel Dynamics after saying it expects “somewhat softer earnings” for the second quarter. The company added that demand for sheet steel has been “relatively stable” but pricing has been weak, citing increased imports and greater domestic capacity.
Mining group Cliffs Natural Resources was also likely to be in focus, after announcing that 59 jobs were cut at Toney Fork No. 2, its surface mine in Man, West Virginia. The move came as the Cleveland-based company reduced its 2012 forecast for sales and production of thermal coal.
Elsewhere, tech stocks were slated to move. Microsoft was due to preview a company-branded tablet at an event in Los Angeles later in the day. Shares edged up 0.10% in pre-market trade.
In the Internet sector, LinkedIn Corp. dropped 0.99% in early trading, after the company said in a statement last week that it was “profoundly sorry” for the theft of about 6.5 million passwords that were posted on a hacker site.
Across the Atlantic, European stock markets were mixed. The EURO STOXX 50 fell 0.22%, France’s CAC 40 added 0.18%, Germany's DAX climbed 0.79%, while Britain's FTSE 100 advanced 0.48%.
During the Asian trading session, Hong Kong's Hang Seng Index climbed 1%, while Japan’s Nikkei 225 Index eased surged 1.8%.
Markets were also eyeing a two-day G-20 summit, set to begin in Mexico later in the day.
Ahead of the open, the Dow Jones Industrial Average futures pointed to a decline of 0.26%, S&P 500 futures signaled a 0.21% fall, while the Nasdaq 100 futures indicated a 0.03% rise.
Market sentiment strengthened earlier, after political parties supporting Greece's international bailout were to begin forging a government on Monday, after an election victory over radical leftists staved off the prospect of the debt-laden country leaving the euro.
Conservative New Democracy leader Antonis Samaras called for broad support after winning Sunday's election over the radical Syriza party, which had threatened to cancel the aid deal in defiance of the country's lenders.
But investors remained concerned over the handling of Greece’s financial crisis after Germany’s Foreign Minister said the substance of Athens’ reform program remained non-negotiable.
Meanwhile, the yield on Spanish 10-year bonds climbed earlier to a euro-era high of 7.13%, above the critical 7% threshold which prompted bailouts in Greece, Ireland and Portugal.
Metal companies were expected to be active, such as Steel Dynamics after saying it expects “somewhat softer earnings” for the second quarter. The company added that demand for sheet steel has been “relatively stable” but pricing has been weak, citing increased imports and greater domestic capacity.
Mining group Cliffs Natural Resources was also likely to be in focus, after announcing that 59 jobs were cut at Toney Fork No. 2, its surface mine in Man, West Virginia. The move came as the Cleveland-based company reduced its 2012 forecast for sales and production of thermal coal.
Elsewhere, tech stocks were slated to move. Microsoft was due to preview a company-branded tablet at an event in Los Angeles later in the day. Shares edged up 0.10% in pre-market trade.
In the Internet sector, LinkedIn Corp. dropped 0.99% in early trading, after the company said in a statement last week that it was “profoundly sorry” for the theft of about 6.5 million passwords that were posted on a hacker site.
Across the Atlantic, European stock markets were mixed. The EURO STOXX 50 fell 0.22%, France’s CAC 40 added 0.18%, Germany's DAX climbed 0.79%, while Britain's FTSE 100 advanced 0.48%.
During the Asian trading session, Hong Kong's Hang Seng Index climbed 1%, while Japan’s Nikkei 225 Index eased surged 1.8%.
Markets were also eyeing a two-day G-20 summit, set to begin in Mexico later in the day.