Investing.com - U.S. stock futures pointed to a steady to lower open on Monday, as recent upbeat U.S. economic reports fuelled speculation over a near-term end to the Federal Reserve's bond buying program.
Ahead of the open, the Dow Jones Industrial Average futures pointed to a 0.04% loss, S&P 500 futures signaled a 0.03% dip, while the Nasdaq 100 futures indicated a 0.04% fall.
On Friday data showed that U.S. consumer sentiment rose more than expected in May, climbing to an almost six year high.
The University of Michigan said its consumer sentiment index jumped to 83.7 in May, its highest level since 2007, from 76.4 in the preceding month, outstripping expectations for a reading of 78.0.
Internet-related companies were expected to be active, as Yahoo was preparing to unveil updates to the company’s Flickr photo-sharing site later Monday, amid reports that the board has approved a USD1.1 billion acquisition of blogging network Tumblr Inc.
Yahoo shares surged 2.26% in early trading. The company's Chief Executive Officer Marissa Mayer was set to detail changes to Flickr at a press event in New York.
General Motors was also likely to remain in focus after breaking above its 2010 initial public offering price of USD33 on Friday for the first time since May 2011, sending shares up 0.36% in pre-market trade.
In addition, CLSA raised its rating on the automaker's stock to "buy" from "underperform."
Elsewhere, Tableau Software was preparing for its second day of trading. The stock jumped 1.36% on Friday, as investors bet the rising interest in big data will drive the data analysis software maker's growth.
Other stocks in focus included Campbell Soup, scheduled to report first-quarter earnings later in the day.
Across the Atlantic, European stock markets were higher. The EURO STOXX 50 added 0.12%, France’s CAC 40 rose 0.24%, Germany's DAX climbed 0.47%, while Britain's FTSE 100 inched up 0.01%.
During the Asian trading session, Hong Kong's Hang Seng Index surged 1.78%, while Japan’s Nikkei 225 Index rallied 1.47%.