Futures on major U.S. stock indices point to a lower opening on Monday as weaker than expected economic growth from Japan raised fresh concerns about the strength of global economic recovery.
Futures on the S&P 500 are down 0.48 percent, futures on the Dow Jones Industrial Average are down 0.40 percent and Nasdaq100 futures are down 0.30 percent.
Japanese economy grew at a slower pace in the second quarter, the slowest in three quarters. GDP rose 0.1 percent in the second quarter compared to a revised 1.1 percent in the previous quarter. Real gross domestic product grew 0.4 percent annually in the second quarter.
Investors will be looking out for encouraging economic data to push stocks higher as last week’s mixed economic reports including unexpected rise in jobless claims were unable to boost sentiment.
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NY Empire State manufacturing index is due to release for the month of August before market opens. The index is expected to show that manufacturing activities expanded in August to 7.50 from 5.10 reported in July.
European shares pared earlier gains, led by declines from banking sector and are currently trading lower with FTSE 100 is trading down by 19.56 points, DAX30 is trading down by 15.85 points and CAC 40 is trading down by 33.28 points.
Asian stock markets were mixed on Monday as weaker-than-expected economic growth from Japan weighed on the sentiment. Chinese Shanghai Composite advanced 2.11 percent and Hong Kong’s Hang Sheng rose 0.19 percent, while Japanese Nikkei declined 0.61 percent.
The euro advanced 0.47 percent to 1.2814 against the dollar and the yen advanced 0.82 percent against the greenback.
Crude oil futures advanced 0.05 percent and copper futures rose 0.53 percent. In precious metal sector, gold futures advanced 0.62 percent and silver futures gained 0.52 percent.
On Friday, US stock markets fell modestly on a mixed batch of economic data to end a tumultuous week.
