LDN - Business

Futures flat as investors await Fed speakers

[September 25, 2017] By Sruthi Shankar

(Reuters) - U.S. stock index futures were little changed on Monday, the wait for a speech by U.S. Federal Reserve chief Janet Yellen later in the week helping cool any lift from a handful of positive stock recommendations.

* Gains for the far-right in German elections that make government-forming more complicated for Chancellor Angela Merkel weighed on European markets.

* The U.S. central bank left interest rates unchanged in its September policy meeting, as expected, but signaled it still expects one more increase by the end of the year, despite a recent bout of low inflation.

* Investors will look for more guidance on monetary policy from a list of speakers on Monday including New York Fed President William Dudley, Chicago Chief Charles Evans and their Minneapolis counterpart, Neel Kashkari.

* A team of Republican policy makers is expected to release a plan on Wednesday targeting tax cuts for businesses, but offer few clues about how to replace reduced federal revenues, according to sources.

* General Motors <GM.N> rose 1.65 percent in premarket trading after Deutsche Bank upgraded the automaker's stock to "buy" from "hold".

* AIG fell about 0.5 percent after the insurer said it would reorganize into three new business units and no longer have commercial and consumer businesses.

[to top of second column]

Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., September 21, 2017. REUTERS/Brendan McDermid

* Under Armour was up 1.6 percent after KeyBanc upgraded the company' stock to "overweight".

* Senate up against a Saturday deadline for deciding the fate of the 2010 Affordable Care Act, popularly known as Obamacare. The chances of repealing and replacing Obamacare appear slim after Republican Senator McCain said he will not back the latest healthcare plan.

* The S&P 500 closed slightly higher on Friday as worries about Washington's latest healthcare legislation proposal eased.

Futures snapshot at 7:01 a.m. ET:

* Dow e-minis were down 9 points, or 0.04 percent, with 21,750 contracts changing hands.

* S&P 500 e-minis were down 1 points, or 0.04 percent, with 133,471 contracts traded.

* Nasdaq 100 e-minis were down 3 points, or 0.05 percent, on volume of 27,779 contracts.

(Reporting by Sruthi Shankar in Bengaluru; editing by Anil D'Silva and Patrick Graham)

Back to top