U.S. stock-index futures were lower today as a strong jobs report on Friday boosted bets the Federal Reserve could hike interest rates as soon as September and as investors considered the outlook for Greece’s debt negotiations.
Futures for the Dow Jones Industrial Average dipped 6 points to 17,836, while those for the S&P 500 index edged down about 2 points to 2,090.20. Futures for the Nasdaq-100 index dipped 3.5 points to 4,478.
Stronger-than-expected jobs data for May and a pickup in wages were the latest signs of improved momentum in the economy, prompting expectations that the Fed will raise rates sooner than later.
Greek worries continued to pester the market. Greek Prime Minister Alexis Tsipras was defiant in a speech to parliament on Friday, declaring creditors’ debt proposal for the country as “absurd.”
Stocks ended mostly lower Friday, capping a volatile week with losses. The Dow fell 0.3 percent to 17,849 on Friday and the S&P lost 0.1 percent to 2,092. The Nasdaq Composite rose 0.2 percent to 5,068.
MOVERS:
Deutsche Bank (NYSE:DB) rose 6 percent in premarket trading after the bank’s co-chief executives announced their resignations yesterday.
Wal-Mart Stores (NYSE:WMT) advanced 0.8 percent after Raymond James Financial Inc. recommended investors buy the stock.
American Airlines Group (NASDAQ:AAL) fell 1.1 percent as chief executive officer Doug Parker told Reuters in an interview that capacity growth could depress profits.
Walter Energy (NYSE:WLT) slumped 15 percent and was set to open at record low after Bloomberg reported the coal miner could file for bankruptcy this month.
Sears Holdings (NASDAQ:SHLD) rose 2.8 percent to $41.90 in premarket trading after the department store operator reported a smaller quarterly loss and said it plans to raise $2.6 billion from the spinoff of 235 stores into a real estate investment trust (REIT).
COMMODITIES:
Spot gold inched up 0.1 percent to $1,172.86 an ounce.
Front-month Brent futures dropped to a low of $62.70 per barrel before recovering to $63.06 a barrel. US crude was at $58.90 per barrel, down 23 cents.
OTHER MARKETS:
European stocks were mostly lower, adding to the negative tone. France’s CAC 40 slid 0.9 percent and Germany’s DAX lost 0.7 percent.
Stocks in Japan fell on rising expectations for a U.S. interest-rate hike, while the Shanghai Composite Index hit its highest level in more than seven years. Data showed China’s exports fell moderately in May, while imports tumbled due to weak do