Alexandra Gibbs, CNBC–
U.S. stock index futures ticked lower ahead of Monday’s open, as investors awaited a new cluster of corporate earnings.
Around 5:25 a.m. ET, Dow futures slipped 39 points, indicating a lower open of -39.94 points. The Nasdaq and the S&P 500 futures indicated a relatively flat to weaker start to Monday’s session for their respective markets.
The moves in pre-market trade come as major markets overseas traded mixed to lower on Monday. In Europe, markets came under pressure, while in Asia, trade finished in the red, as moves in the U.S. bonds market kept investors on edge.
On Friday, the yield on the 10-year Treasury note hit 2.96 percent, its highest level since January 2014, while the two-year yield hit its highest level since September 2008. On Monday, yields continued to post gains.
In economic data, a flash reading of the latest composite purchasing managers’ index (PMI) will be published 9:45 a.m. ET, while existing home sales will follow shortly after, at 10 a.m. ET.
In the central banking space, New York Fed President William Dudley is due to appear at “The Transatlantic Economy Ten Years After the Crisis” conference in New York.
Geopolitics will remain front and center. On Saturday, North Korea pledged to halt nuclear and missile tests, adding that it would scrap its nuclear test site, in order to pursue peace and economic growth instead. President Donald Trump tweeted on Sunday, however, that the North Korean nuclear crisis was far from resolved.
French President Emmanuel Macron will begin his state visit to the U.S. and is set to meet with Trump. The meeting is expected to advance the two countries cooperation on global and economic topics.
Elsewhere, oil will remain a key focus. While prices came under pressure during Monday’s session, the market remains supported on the back of strong demand and cuts from OPEC.