Investing.com – U.S. stock futures pointed to a lower open on Monday, as market sentiment was weighed amid uncertainty over possible euro zone sovereign debt restructuring, while shares in home-improvement retailer Lowe’s tumbled ahead of the open.
Dow Jones Industrial Average futures pointed a decline of 0.2%, the S&P 500 futures shed 0.35%, while Nasdaq 100 futures dipped 0.25%.
Euro zone finance ministers were to meet later in the day to discuss further support for Greece, in talks clouded by the arrest of International Monetary Fund chief Dominique Strauss-Kahn in New York on Sunday.
Meanwhile, the largest U.S. home-improvement retailer Lowe’s tumbled 4.9% in pre-market trade after reporting a 5.7% drop in first quarter net income, as results were weighed by lower comparable sales and unfavorable weather conditions. The company also lowered its full-year earnings and sales growth outlook.
Shares in NYSE Euronext, operator of the New York Stock Exchange plunged 9.6% after Nasdaq OMX Group and Intercontinental Exchange withdrew their USD11.3 billion joint offer to acquire the exchange operator, citing regulatory hurdles.
On the upside, department store retailer JC Penny saw shares jump 4.5% after it reported first quarter earnings that topped market expectations. The retailer lifted its full-year earnings outlook.
In deal news, mining equipment manufacturer Joy Global agreed to acquire LeTourneau Technologies from Rowan Companies for nearly USD1.1 billion.
Joy’s acquisition of LeTourneau, which designs and builds earthmoving equipment for the oil and gas drilling industries, would enable it to enter the oil-and-gas mining market.
Shares in housing-search service provider Primedia soared 54.1% after private equity firm TPG Capital agreed to acquire the company in a deal valued at approximately USD525 million.
Meanwhile, shares in Netflix could be active after it reached a multiyear agreement with Hollywood movie studio Miramax, under which its subscribers can access movies from the Miramax film library.
Across the Atlantic, European stock markets posted sharp losses as the arrest of Strauss-Kahn added to existing uncertainty about the euro zone debt crisis. The EURO STOXX 50 slumped 0.95%, France’s CAC 40 tumbled 1.2%, Germany's DAX sank 1.15%, while Britain's FTSE 100 fell 0.85%.
During the Asian trading session, Japan’s Nikkei 225 Index closed 0.95% lower, while Hong Kong’s Hang Seng Index dropped 1.35% amid concerns over further monetary tightening by China and after Goldman Sachs downgraded Japanese equities.
Earlier Monday, official data showed that manufacturing conditions in the New York-region fell significantly more-than-expected in May, dropping to 11.9 from 21.7 in April.
Later in the day, Federal Reserve Chairman Ben Bernanke was to speak on the U.S. economy.
Dow Jones Industrial Average futures pointed a decline of 0.2%, the S&P 500 futures shed 0.35%, while Nasdaq 100 futures dipped 0.25%.
Euro zone finance ministers were to meet later in the day to discuss further support for Greece, in talks clouded by the arrest of International Monetary Fund chief Dominique Strauss-Kahn in New York on Sunday.
Meanwhile, the largest U.S. home-improvement retailer Lowe’s tumbled 4.9% in pre-market trade after reporting a 5.7% drop in first quarter net income, as results were weighed by lower comparable sales and unfavorable weather conditions. The company also lowered its full-year earnings and sales growth outlook.
Shares in NYSE Euronext, operator of the New York Stock Exchange plunged 9.6% after Nasdaq OMX Group and Intercontinental Exchange withdrew their USD11.3 billion joint offer to acquire the exchange operator, citing regulatory hurdles.
On the upside, department store retailer JC Penny saw shares jump 4.5% after it reported first quarter earnings that topped market expectations. The retailer lifted its full-year earnings outlook.
In deal news, mining equipment manufacturer Joy Global agreed to acquire LeTourneau Technologies from Rowan Companies for nearly USD1.1 billion.
Joy’s acquisition of LeTourneau, which designs and builds earthmoving equipment for the oil and gas drilling industries, would enable it to enter the oil-and-gas mining market.
Shares in housing-search service provider Primedia soared 54.1% after private equity firm TPG Capital agreed to acquire the company in a deal valued at approximately USD525 million.
Meanwhile, shares in Netflix could be active after it reached a multiyear agreement with Hollywood movie studio Miramax, under which its subscribers can access movies from the Miramax film library.
Across the Atlantic, European stock markets posted sharp losses as the arrest of Strauss-Kahn added to existing uncertainty about the euro zone debt crisis. The EURO STOXX 50 slumped 0.95%, France’s CAC 40 tumbled 1.2%, Germany's DAX sank 1.15%, while Britain's FTSE 100 fell 0.85%.
During the Asian trading session, Japan’s Nikkei 225 Index closed 0.95% lower, while Hong Kong’s Hang Seng Index dropped 1.35% amid concerns over further monetary tightening by China and after Goldman Sachs downgraded Japanese equities.
Earlier Monday, official data showed that manufacturing conditions in the New York-region fell significantly more-than-expected in May, dropping to 11.9 from 21.7 in April.
Later in the day, Federal Reserve Chairman Ben Bernanke was to speak on the U.S. economy.