5 Things You Should Know Before the Stock Market Opens
NEW YORK (TheStreet) -- U.S. stock futures were pointing to a lower open for Wall Street on Monday following European shares down ahead of a European summit later this week.
EU leaders, in a meeting at the end of the week, are expected to discuss safeguarding the 17-nation euro currency bloc.
Spain made official Monday its request for European aid for its struggling banking sector; the aid could top €100 billion.
U.S. stocks on Friday finished with solid gains. The Dow Jones Industrial Average rose 67 points, or 0.53%, to close at 12,641. The index lost 1% in its first weekly decline in three weeks.
The Commerce Department Monday is expected to report that U.S. new-home sales rose in May to a seasonally adjusted annual rate of 346,000, after increasing to 343,000, according to a survey of economists by Thomson Reuters. The new-home sales report is scheduled for release at 10 a.m. EDT.
Research In Motion (RIMM), the BlackBerry maker, could split its business in two by separating its handset manufacturing unit from its messaging network, according to The Sunday Times, which didn't cite sources. RIM may break off the handset division into a separate listed company or try to sell it, the British newspaper said. Amazon (AMZN) or Facebook (FB) were listed as potential buyers, The Sunday Times said.
The Supreme Court ruling on the constitutionality of President Barack Obama's health care overhaul could reportedly be announced as early as Monday.
The Muslim Brotherhood candidate won the presidential runoff election in Egypt by a narrow margin. Mohamed Morsi was declared the winner over Ahmed Shafiq, the former prime minister under ousted President Hosni Mubarak.
-- Written by Joseph Woelfel
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