27 Haziran 2011 Pazartesi

Futures Point to Higher Start

U.S. stock futures were slightly higher on Monday after last week's losses, as investors monitored the euro-zone debt crisis and awaited data on consumer spending.

About three hours before the start of trading, futures on the Dow Jones Industrial Average were up 22 points at 11903 and those on the Standard & Poor's 500 stock index gained 2.50 points to 1266.50. Nasdaq 100 futures advanced 8.25 points to 2216. Changes in futures don't always accurately predict early market moves after the opening bell.

The blue-chip Dow index slumped 1% on Friday, falling for a third consecutive trading day. It finished last week with a loss of 0.6%.

The economic calendar is relatively thin on Monday, with data on personal income and spending for May due at 8:30 a.m., ET.

In London, Chinese Premier Wen Jiabao is meeting with U.K. Prime Minister David Cameron on Monday to discuss bilateral business opportunities as well as cooperation on global issues such as climate change and international security.

European equity markets were trading slightly higher Monday, with the Stoxx 600 index up 0.3% in intraday trading.

Sentiment was cautious, however, ahead of a Greek parliamentary vote on additional austerity measures expected later this week. Approval of the measures is a condition for the release of more aid to Greece by international lenders from the bailout package agreed last year.

"This would undoubtedly buy Greece some time and help sidestep a near-term default in July, but the more medium/long-term insolvency issue will remain untackled," Deutsche Bank said in a note to clients.

The euro edged up 0.2% against the dollar to $1.4204. The dollar index, which tracks the performance of the greenback against a basket of other major currencies, was little changed at 75.589.

After the U.S. stock market closes, athletic footwear and apparel firm Nike will report its fiscal fourth-quarter earnings.

In Asia, most equity markets posted losses overnight, with Japan's Nikkei Stock Average falling 1%.

Write to Polya Lesova at polya.lesova@dowjones.com

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