NEW YORK (TheStreet) -- U.S. stock futures were pointing to a lower start for Wall Street Monday as investors take profits following recent rallies in global markets after U.S. lawmakers reached a deal to avert the U.S. economy from going over the so-called fiscal cliff.
European stocks were moving lower while Asian shares finished Monday's session mostly to the downside. Japan's Nikkei 225 index fell 0.8% to close at 10,599.01.
The economic calendar in the U.S. Monday includes the Conference Board's employment trend index for December at 3 p.m. EST.
U.S. stocks on Friday rose following upbeat December jobs and services-sector growth reports. The Dow Jones Industrial Average gained 44 points, or 0.3%, at 13,435. The blue-chip index posted its biggest weekly point gain since December 2011. The index finished up 1.9% for the week. The S&P 500 added 7 points, or 0.5%, to 1,466 to post its highest close since 2007. The index finished up 2.5% for the week. The Nasdaq ended up 1 point to 3,102.
A $10 billion settlement to resolve claims of foreclosure abuses by 14 major banks is expected to be announced as early as Monday, The New York Times reported, citing several people with knowledge of the settlement. All 14 banks , including JPMorgan Chase (JPM), Bank of America (BAC) and Citigroup (C), are expected to sign on, according to the Times.
Chipmaker Nvidia (NVDA) unveiled a handheld game console on Sunday as the Consumer Electronics Show in Las Vegas kicked off. Paul Jacobs, CEO of wireless chipmaker Qualcomm (QCOM), delivers the keynote address at the 2013 CES convention on Monday evening.
President Barack Obama is expected to announce Monday that he is nominating former Republican Sen. Chuck Hagel as defense secretary.
Alabama and Notre Dame, two of college football's most storied franchises, face off Monday night in the Bowl Championship Series title game in Miami.
-- Written by Joseph Woelfel
>To contact the writer of this article, click here: Joseph Woelfel
Select the service that is right for you!COMPARE ALL SERVICES
- $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
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV