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* Equities have been volatile in recent
sessions, with major indexes closing out their worst week in
eight last week despite a sharp advance on Friday. Daily moves
on the S&P 500 have been sharply above average of late, and the
benchmark index closed under its 50-day moving average one day
last week.
* While the S&P is only 1.4 percent away from a record close hit
earlier this month, many investors have expressed concerns about
the recent trend in equities. The S&P is below its 14-day moving
average, a sign of weak near-term momentum, while the Russell
2000 is down more than 7 percent from its closing record,
leading to worries that those losses could spread throughout the
market.
* Investors closely watched the situation in Hong Kong, where
China faced one of its biggest political challenges since the
Tiananmen Square massacre as hundreds of democracy protesters
faced down tear gas and police baton charges. Growth in China
has been a major driver of global share gains in recent years,
although recent data has pointed to slowing conditions. An
extended period of unrest could raise further questions about
the economy's prospects.
* The Hang Seng Index fell 1.9 percent, bringing its
quarter-to-date losses to 6.1 percent, while an index of shares
in Shanghai rose 0.4 percent.
* In company news, Encana Corp said it would buy Athlon Energy
Inc for $5.93 billion in cash.
* New research shows Merck & Co's Keytruda drug, the first in a
new wave of immune-boosting medicines to be approved for
treating melanomas in the United States, also has potential in
stomach cancer.
Futures snapshot at 6:47:
* S&P 500 e-minis were falling 8 points, or 0.4 percent, with
138,934 contracts changing hands.
* Nasdaq 100 e-minis were down 17 points, or 0.42 percent, in
volume of 24,060 contracts.
* Dow e-minis were down 72 points, or 0.42 percent, with 23,053
contracts changing hands.
(Editing by Lisa Von Ahn)
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