US stock fu­tures lit­tle changed ahead of raft of data

The Pak Banker - - INTERNATIONAL BUSINESS/SPORTS -

US stock in­dex fu­tures were lit­tle changed on Mon­day as in­vestors await another batch of earn­ing re­ports and a raft of eco­nomic data. Wall Street closed lower on Fri­day fol­low­ing poor re­sults from Exxon Mo­bil and Chevron and a de­cline in oil prices amid over­sup­ply con­cerns. Oil prices hit six-month lows ear­lier in the day, knocked by fresh ev­i­dence of grow­ing over­sup­ply and data high­light­ing slow­ing de­mand in China, leav­ing crude prices on course for their weak­est thirdquar­ter per­for­mance since the fi­nan­cial cri­sis in 2008.

The Greek stock mar­ket slumped when it re­opened on Mon­day af­ter be­ing shut for five weeks. In the United States, con­sumer con­sump­tion num­bers for June are ex­pected at 8:30 a.m. ET (1230 GMT). The num­bers are ex­pected to rise 0.2 per­cent, com­pared with a 0.9 per­cent rise in May.

Con­struc­tion spend­ing data for June is ex­pected at 10 a.m. ET and au­to­mo­bile sales for July are sched­uled to be re­leased at 1:30 p.m. ET.

In­vestors have been keep­ing a sharp eye on eco­nomic data for clues re­gard­ing the tim­ing of the first rate in­crease in nearly a decade. The U.S. Fed­eral Re­serve has said it will hike in­ter­est rates only when it sees a sus­tained re­cov­ery in the econ­omy.

On Fri­day, wage data showed that U.S. la­bor costs in the sec­ond quar­ter recorded their small­est in­crease in 33 years, which bol­stered ex­pec­ta­tions that the Fed might hold off on an in­ter­est rate in­crease un­til De­cem­ber.

Com­pa­nies sched­uled to re­port on Mon­day in­clude Amer­i­can In­ter­na­tional Group (AIG.N), All­state (ALL.N) and Gen­eral Growth Prop­er­ties (GGP.N). All of them re­port af­ter the close.

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