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* Equities have been strong of late, with the
Dow last week posting its biggest weekly gain since January 2013
and the S&P coming off its biggest two-week jump since December
2011. The Nasdaq closed at its highest since March 2000.
* The gains have largely come on the back of strong quarterly
results, which have eased concerns over how corporations are
faring in an uncertain growth environment. In addition, a
surprise move by the Bank of Japan to ramp up its stimulus
fueled Friday's gains.
* More stimulus globally could help the outlook for stocks,
especially if the U.S. economy keeps improving and earnings
continue to grow. However, the recent rally in equities was
preceded by a decline that nearly took the S&P into correction
territory, which is defined as a 10 percent drop from a peak.
That selloff came on concerns about the global economy, as well
as the spread of Ebola.
* While the market's momentum is to the upside, near-term
trading may be quieter as earnings season draws to a close. With
results in from 70 percent of companies, 75.8 percent are
reporting earnings above analysts' expectations, according to
Thomson Reuters data, well above the long-term average of 63
percent.
* Investors are looking ahead to a round of economic data, all
of which will be released after the market opens. Both
construction spending and the Institute for Supply Management's
read on manufacturing are due at 10 a.m. EST (1500 GMT).
Spending is seen up by 0.7 percent in September, while the ISM
report is seen dipping to 56.2 in October from 56.6.
* Separately, Markit's final read on October manufacturing is
due at 9:45 a.m. The preliminary reading showed the lowest rate
of growth since July.
Futures snapshot at 6:43:
* S&P 500 e-minis were falling 2 points, or 0.1 percent, with
92,284 contracts changing hands.
* Nasdaq 100 e-minis were down 3.5 points, or 0.08 percent, in
volume of 12,336 contracts.
* Dow e-minis were down 25 points, or 0.14 percent, with 11,149
contracts changing hands.
(Editing by Lisa Von Ahn)
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