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 * The dollar inched up and Asian stocks dipped as cautious investors
backed off from taking on risk. European markets were closed for the
Easter Monday holiday.
* The Fed remains dependent on data to bolster its case for multiple
rate hikes this year, even as central banks around the world
consider more stimulus measures to kick-start growth.
* Data on Friday showed U.S. economic growth slowed in the fourth
quarter, but not as sharply as previously estimated, fueling
speculation that a rate hike could come sooner than expected.
* A report by the Commerce Department on Monday is expected to show
consumer spending rose 0.1 percent in February after having risen
0.5 percent in the previous month. The report is due at 8:30 a.m.
ET.
* U.S. stocks closed lower on Thursday, snapping a five-week winning
streak as a strengthening dollar weighed on commodity-related
shares.
* The S&P 500 and the Dow are back in the red for 2016, after
staging a sharp recovery from a steep selloff at the beginning of
the year.
* Shares of Gamestop were down 7.2 percent at $28.10 premarket,
after the company on Thursday forecast quarterly revenue below
estimates.
* Acadia Pharmaceuticals jumped 16.4 percent to $23.64 after U.S.
FDA staff said the company's drug to treat psychosis associated with
Parkinson's disease was an effective treatment for the condition.
[to top of second column] |
Futures snapshot at 6:53 a.m. ET:
* Dow e-minis were up 42 points, or 0.24 percent, with 8,705
contracts changing hands.
* S&P 500 e-minis were up 5.75 points, or 0.28 percent, with
45,616 contracts traded.
* Nasdaq 100 e-minis were up 13.75 points, or 0.31 percent, on
volume of 7,330 contracts.
(Reporting by Abhiram Nandakumar in Bengaluru; Editing by Saumyadeb
Chakrabarty)
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