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Traders work on the floor of the New York Stock Exchange June 11, 2012.
Credit: Reuters/Brendan McDermid
LONDON |
LONDON (Reuters) – Stock index futures pointed to a lower open on Wall Street on Monday, with concerns over the global economy dampening shares in Asia and Europe.
The futures contract for the S&P 500 fell 0.3 percent, while the Dow Jones futures contract retreated 0.4 percent and Nasdaq 100 futures shed 0.2 percent.
Apple (AAPL.O) will be in focus after Sony Corp (6758.T) said it aims to win third place in smartphone markets around the world behind Apple and Samsung Electronics Co (005930.KS), pitting it against Chinese companies Huawei Technology (002502.SZ) and ZTE (000063.SZ) which are looking to become the third big player in mobile devices.
Pratt & Whitney, a subsidiary of United Technologies Corp (UTX.N), uncovered a fraudulent scheme of testing engine parts by another unit of United Tech, the Wall Street Journal reported on Monday.
ConocoPhillips (COP.N), which has been looking to sell down its interest in Canada’s oil sands, said that moves by Ottawa to limit foreign investment in that country’s resources have made it more difficult for some buyers.
The pan-European FTSEurofirst 300 index .FTEU3 fell 0.2 percent to 1,164.35 points, with weaker-than-forecast results from British bank HSBC (HSBA.L) weighing on markets.
Asian stock markets also fell, as worries that China would tighten its grip on the property sector hurt sentiment.
U.S. stocks rose modestly on Friday, leaving the S&P 500 with slight gains in a volatile week as strong U.S. economic data overshadowed both growth concerns in China and Europe and the impact of expected U.S. government spending cuts.
The Dow Jones industrial average .DJI gained 35.17 points, or 0.25 percent, to 14,089.66 at the close. The Standard & Poor’s 500 Index .SPX added 3.52 points, or 0.23 percent, to 1,518.20. The Nasdaq Composite Index .IXIC advanced 9.55 points, or 0.30 percent, to 3,169.74.
(Reporting by Sudip Kar-Gupta; Editing by Susan Fenton)
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Stock futures slip as growth concerns weigh
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