European stocks have lost most of the gains they made earlier Monday, and indications are that U.S. equity markets could open lower. Analysts noted an increase in investors' willingness to take on risk and optimism about President-elect Barack Obama's economic stimulus plans. However, profit-taking is expected to limit progress later. "After bumper gains on Friday, the New Year is continuing to start in a very positive fashion. However, with a lack of any key data this afternoon and the strong gains from the last few days we could be in store for a degree of profit-taking as U.S. index futures look set to open marginally lower for this afternoon's session," said Ian Griffiths, a dealer at CMC Markets. Ahead of the open, CMC is calling the Dow Jones Industrial Average down 55 points at 8,980, the Nasdaq down 14 at 1,250, and the S&P 500 down four at 928.

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