By Barbara Kollmeyer, MarketWatch
Dollar regains some momentum versus euro
U.S. stock futures rose moderately on Monday tempered by more
weak economic data out of China and as investors await a report on
factory orders and a slate of Federal Reserve speakers to glean
more clues on the pace of rate hikes.
Futures for the Dow Jones Industrial Average (YMM5) rose 60
points, or 0.3%, to 17,992, while those for the S&P 500 index
(ESM5) added about 7 points to 2,108. Futures for the Nasdaq-100
(NQM5) rose 14 points to 4,478.75.
The German DAX 30 index was up 1.5%, leading gains for European
stocks
(http://www.marketwatch.com/story/european-stocks-edge-lower-with-uk-market-closed-2015-05-04)
after the release of robust manufacturing data for the eurozone.
London markets are closed for a holiday.
China's Shanghai Composite Index , meanwhile, closed higher on
Monday
(http://www.marketwatch.com/story/china-shares-drift-lower-2015-05-03),
recovering from earlier losses after data showed the country's
manufacturing activity slowed more sharply than forecast. Tokyo
markets were closed for a holiday.
Read: Icahn: Junk bonds now 'even more dangerous' than stock
market
(http://www.marketwatch.com/story/icahn-junk-bonds-now-even-more-dangerous-than-stock-market-2015-05-03)
Data: The only piece of U.S. data for Monday is factory orders,
scheduled for 10 a.m. Eastern Time. Forecasters are calling for a
rise of around 2.4% in March, after a gain of 0.2% in February
broke a six-month streak of declines.
Those expectations could turn out to be too optimistic, said
Nour Al-Hammoury, chief market strategist at ADS Securities in Abu
Dhabi, in a note. "If the figure does disappoint, the level of
uncertainty regarding the Federal Reserve Policy will only
increase," he said.
Chicago Fed President Charles Evans will give a speech in
Columbus, Ind. at 12:25 p.m. Eastern Time, while San Francisco Fed
President John Williams will speak to a small-business trade group
in San Francisco at 3:10 p.m. Eastern.
Wall Street is looking ahead to the nonfarm-payrolls report due
Friday. Forecasters predict job creation in April will bounce back
significantly after a disappointing 126,000 increase in March,
which was the smallest in 15 months.
Read: Roses or thorns? Wall Street awaits pivotal jobs report
for April
(http://www.marketwatch.com/story/roses-or-thorns-wall-street-awaits-pivotal-jobs-report-for-april-2015-05-03)
Stocks to watch: McDonald's Corp. (MCD) shares dropped 1.1%
after chief executive Steve Easterbrook unveils turnaround
plan.
Cisco Systems Inc. (CSCO) announced that its longtime head, John
Chambers,
(http://www.marketwatch.com/story/ciscos-john-chamber-to-relinquish-ceo-role-in-july-2015-05-04)
is being replaced in July internally by Chuck Robbins.
Comcast Corp.(CMCSA) said it would buy back $6.75 billion in
shares in 2015, as it reported earnings rose in the first quarter.
Shares jumped 1.8%.
Read: Media, smaller energy companies provide bulk of results as
earnings taper off
(http://www.marketwatch.com/story/media-smaller-energy-cos-provide-bulk-of-results-as-earnings-taper-off-2015-05-03)
Shares of Charter Communications Inc.(CCMMV) could be in focus
after The Wall Street Journal
(http://www.marketwatch.com/story/charter-expresses-interest-in-friendly-deal-talks-with-time-warner-2015-05-03-15103119)
reported, citing sources, that the company has started to approach
the management of Time Warner Cable Inc. (TWC) about a friendly
merger.
Shares of Syngenta AG rallied 8% in Switzerland after a media
report last week said U.S. seed group Monsanto Co.(MON) had
approached its rival about a takeover. The Swiss stock index was
closed on Friday for a holiday.
Other markets: The dollar regained some strength on Monday, with
the euro (EURUSD) pulling back to $1.114, a 0.5% drop. Oil prices
(CLM5) also moved higher, along with gold (GCM5).
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