NEW YORK ( TheStreet) -- U.S. stock futures were trading mixed Monday as traders awaited what's expected this week to be another weak nonfarm payrolls number, while hoping for a fresh round of action from the Federal Reserve and European Central Bank.
Investors also continued to keep their eyes on corporate earnings reports.
Futures for the Dow Jones Industrial Average were falling 30 points, or 13.66 points below fair value, at 13,003. Futures for the S&P 500 were down 4.2 points, or 2.96 points below fair value, at 1378, while futures for the Nasdaq 100 were up 2.5 points, or 3.57 points above fair value, at 2645.
U.S. stocks on Friday soared after eurozone leaders stepped up their pledges to preserve the single-currency bloc. The Dow Jones Industrial Average settled above 13,000 the first time since May 7.The FTSE in London was rising 0.56% and the DAX in Germany was gaining 0.94%. Hong Kong's Hang Seng index settled up 1.61% and the Nikkei in Japan closed up 0.8%. The global markets climbed Monday as stimulus hopes increased ahead of the Federal Reserve's policy meeting on Tuesday and Wednesday and the European Central Bank's interest rate announcement on Thursday. "While a majority of economists recently polled by Reuters anticipate QE3 by year-end, few expect the Fed will take a significant measure this week," cautioned Phillip Futures analysts. "Nonetheless,
2012 Stock Predictions and Outlook
|Your one-stop shop for 2012 stock recommendations and market predictions.
>To contact the writer of this article, click here: Andrea Tse.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV