Equity futures traded cautiously higher following another losing week and ahead of the final Federal Reserve policy meeting of the year.
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Dow Jones futures were higher by 0.1 percent. The S&P 500 edged up 0.2 percent and the Nasdaq Composite was up 0.2 percent.
The week will be headlined by the two-day Fed policy meeting which begins on Tuesday and ends with a decision on interest rates and a press conference on Wednesday.
On Monday’s calendar, investors will get the latest read on manufacturing in the New York area as well as earnings from Oracle and Red Hat.
U.S. stocks plunged Friday, as the Nasdaq Composite joined the Dow Jones Industrial Average and the S&P 500, now in negative territory for the week.
| Ticker | Security | Last | Change | %Chg |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 24100.51 | -496.87 | -2.02% |
| SP500 | S&P 500 | 2599.95 | -50.59 | -1.91% |
| I:COMP | NASDAQ COMPOSITE INDEX | 6910.6648 | -159.67 | -2.26% |
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All three of the major stock averages lost about 2 percent with the Dow Jones Industrial Average falling nearly 500 points. The Dow and S&P 500 are now negative for the year and in correction territory.
Healthcare stocks paced the declines on Friday as the worst sector in the S&P led by shares Johnson & Johnson following a Reuters report that said the company knew for decades about the presence of cancer-causing asbestos in its ubiquitous and iconic baby powder.
Additionally, investor sentiment was dragged down by more worries over the health of China’s economy after the country’s November retail sales grew at the weakest pace since 2003 and industrial output rose the least in nearly three years as domestic demand softened further.
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In Asian markets on Monday, China’s Shanghai Composite ended the day up 0.2 percent.
Hong Kong’s Hang Seng ended the session flat.
Japan’s Nikkei average finished the day up 0.6 percent.
In Europe, London’s FTSE traded down 0.4 percent, Germany’s DAX added 0.1 percent and France’s CAC lower by 0.5 percent.
