Stock Futures Dip Ahead of Data

By MarketsFOXBusiness

FOX Business: Capitalism Lives Here

U.S. stock-index futures wavered on Monday as traders awaited two key economic reports.

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Today's Markets

As of 8:08 a.m. ET, Dow Jones Industrial Average futures fell 12 points, or 0.07%, to 16745, S&P 500 futures dipped 1 point, or 0.05%, to 1951 and Nasdaq 100 futures advanced 1.5 points, or 0.04%, to 3833.

The Dow and S&P 500 logged mild losses last week in fairly light trading. The subdued tone is expected to persist this week, with the markets closing early Thursday, and then closing completely Friday for the Independence Day holiday in the U.S.

Traders will get a duo of closely-watched economic reports on the day. At 9:45 a.m. ET, the Institute for Supply Management-Chicago posts its latest reading on the state of the factory sector in the U.S. Midwest. Economists expect the PMI gauge to have fallen to 63 in June from 65.5 the month before. Readings above 50 point to expansion, while those below indicate contraction.

Meanwhile, a separate report is expected to show signed contracts to buy previously-owned homes jumped 1.2% in May from the month prior. The metric is seen as a forward-looking indicator of existing home sales.

Elsewhere, U.S. crude oil futures fell 53 cents, or 0.5%, to $105.21 a barrel. Wholesale New York Harbor gasoline dipped 0.5% to $3.083 a gallon. Gold dropped $5.90, or 0.45%, to $1,314 a troy ounce.