Monday January 30th

30-01-2017

Futures point to a lower open on Wall Street as investors eye economic data

U.S. stock index futures pointed to a lower open on Monday amid a batch of earnings and economic data. On the data front, Monday will see pending home sales for December and Dallas Fed manufacturing for January at 10 a.m ET and 10:30 a.m ET, respectively. Personal income for December rose 0.3 percent, below an expected increase of 0.4 percent. On the earnings front, Enterprise Products and Booz Allen Hamilton reported before the bell. General Growth Properties, Leggett & Platt, Principal Financial, Reinsurance Group of America and UDR are all due to report after the market close. In Europe, the pan-European Stoxx-600 index was around 0.63 percent lower on Monday. In Asia, the Shanghai Composite in China closed 0.31 percent higher, while the Nikkei in Japan closed 0.51 percent lower. In oil markets, prices were dragged lower as investors grew increasingly concerned that rising production in the U.S. would offset output cuts pledged by OPEC and other producers. Brent crude traded at around $55.43 a barrel on Monday, down 0.16 percent, while U.S. crude was around $53.16 a barrel, down 0.02 percent. Gold steadied on Monday as political uncertainty created by U.S. President Donald Trump's move to ban people from seven Muslim-majority countries, and by elections in Europe, supported prices. Spot gold was a touch lower, up 0.08 percent at $1,192.15 an ounce. That compared with Friday's 2-1/2-week low of $1,180.65. U.S. gold futures gained 0.2 percent to $1,194.4.