Wall Street was looking at a higher open Monday as traders geared up for the start of earnings and tried to rebound from the selloff that closed out last week.
Index futures for both the
and the Nasdaq 100 were about 6 points above fair value. The 10-year note was down 2/32 in price and yielding 5.14%.
Stocks were higher in Asia, as Japan's Nikkei rose 1.6% to 15,553 and Hong Kong's Hang Seng added 0.9% to 16,604. European indices were mostly weaker, with London's FTSE 100 down 0.2% to 5,880 and Germany's Xetra DAX off 0.1% at 5,674.
Commodities were lower across the board. The price of oil was on the decline, just days after the front-month contract hit a record above $75 a barrel. In Nymex trading, crude was down $1.55 to $73.59 a barrel. Gold was dropping $10.80 to $624 an ounce, silver lost 41 cents to $11 an ounce, and copper was lower by 28 cents to $3.52 a pound.
U.S. shares were pressured Friday by profit warnings from chipmaker
and industrial giant
, and this week, second-quarter earnings season unofficially kicks off. Later Monday, aluminum producer
, always the first member of the
Dow Jones Industrial Average
to report, will release its results.
A number of mergers were making headlines as the week unfolded, including a couple in the energy space.
is planning to buy
in a deal worth about $1.6 billion, and
MDU Resources Group
said it will acquire
Cascade Natural Gas
for $475 million, including debt.
Heritage Property Investment Trust
, a real estate investment trust, agreed to be taken over by affiliates of Australia's Centro Properties Group for $36.15 a share.