(RTTNews) - Wall Street stocks look set for a weaker start on Monday, as sentiment moderates following last week's EU deal-induced advance. Even after last week's EU summit, comments from European leaders are reflecting a lack of unanimity in views and actions regarding their approach to tackle the debt crisis. Additionally, traders may also exercise restraint ahead of the release of some key domestic economic data. The week also will see the conduct of the year's last FOMC meeting, although it is largely expected to be a non-event.
As of 6:30 am ET, the Dow futures are receding 0.76 percent, the S&P 500 futures are slipping 0.89 percent and the Nasdaq 100 futures are declining 0.78 percent.
U.S. stocks posted gains in the week ended December 9th despite sentiment vacillating between optimism and despair over the ongoing efforts to diffuse the debt crisis plaguing the eurozone region.
The unfolding week's focus is likely to be on the FOMC meeting scheduled for this Tuesday. After the coordinated central bank actions announced recently and against the backdrop of positive domestic economic data, most analysts do not expect any policy action. BMO Capital Markets is of the view the central bank to announce that changes to its communication policy are coming.
Traders may also keenly watch the Commerce Department's retail sales report, the Federal Reserve's industrial production report, the results of the New York Federal Reserve's manufacturing survey and the producer and consumer price inflation reports.
The Treasury Budget, a monthly account of the surplus or deficit of the federal government, is due to be released at 2 PM ET. The budget is considered an indicator of budgetary trends and the thrust of fiscal policy. Economists expect a deficit of $139.5 billion for November. Additionally, the Treasury is set to announce the results of the auction of 3-year notes.
In corporate news, ADTRAN (ADTN) said it plans to acquire through an asset sale and purchase agreement the fixed line broadband access business and associated professional services and network management solutions of Nokia Siemens Networks, a joint venture of Nokia (NOK) and Siemens (SI).
Lockheed Martin (LMT) said it has been awarded a $4 billion fixed-price U.S. Navy contract for supplying 30 F-35 joint strike fighter aircraft.
The Asian markets ended on a mixed note, with the Japanese, Australian, Indonesian, South Korean and Taiwanese markets closing higher, while the Chinese, Malaysian, Indian and Hong Kong markets ended weaker. Even as the markets relished the EU deal struck last week, apprehension was perceptible ahead of slew of key economic reports from the U.S. and on a lack of conviction about whether the EU deal will act as a purgatory for the debt malaise.
(RTTNews) - Japan's Nikkei 225 average opened higher and moved sideways for the rest of the session, closing up 117.36 points or 1.37 percent at 8,654. Propelled by energy stocks, Australia's All Ordinaries closed up 47.30 points or 1.11 percent at 4,311, while Hong Kong's Hang Seng Index slipped 10.57 points or 0.06 percent at 18,576.
The major European averages are pulling back, with the French CAC 40 Index and the German DAX Index receding over 1 percent each, while the U.K.'s FTSE 100 Index is moving down about 0.70 percent.
The U.S. dollar is gaining ground, while commodities are moving to the downside.
