By MarketWatch
Wall Street was pointing gently lower Monday as the second-quarter earnings season gets its official start when aluminum major Alcoa reports results after the close. Europe is in focus as EU finance ministers meet and Spain’s bond yields again creep past 7%, a level that tends to unnerve markets. The euro is a bit higher versus the buck before the meeting. And three pending IPOs — from Kayak, Fender and Palo Alto Networks — announced estimated pricing.
Indications: Stock futures lower as investors await earnings
U.S. stock-index futures pointed to a lower start Monday on Wall Street, with markets following Europe’s lead as investors await a meeting of euro-zone finance ministers and the launch of earnings season.
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Alcoa faces low bar after Street cuts profit views.
Europe Markets: Spain again leads Europe stocks into the red
Spanish stocks once again led a push lower in Europe as bond yields topped 7% Monday and investors stood back ahead of a European Union finance-ministers meeting, while resource shares fell as concerns about global growth lingered.
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Resource, retail stocks lose traction in London.
Yields on Spanish bonds rise above 7%.
Marsh: German anti-euro backlash gathers pace.
Asia Markets: Shanghai stocks sink 2.4% to lead declines
Asia stocks were hit Monday by a string of negative global developments, including a disappointing U.S. jobs report and weekend comments from Premier Wen Jiabao highlighting economic pressures on China.
Currencies: Euro drifts higher as finance ministers to meet
The euro edged higher on the dollar Monday after languishing near a two-year low as traders awaited a meeting of euro-zone finance ministers as well as testimony by European Central Bank President Mario Draghi before a European Parliament committee.
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Energy: Oil prices up; seen higher if Norway shutdown persists
Crude prices in the North Sea market and oil futures will rise if a shutdown in Norway’s oil and gas production begins later in the evening, European crude traders and analysts said Monday.
