U.S. stock index futures were lower today as investors await key jobs reports due later in the week. Futures for the Dow Jones Industrial Average lost 0.2 percent to 17,475, while those for the S&P 500 index skidded 0.3 percent to 2,085.50. Futures for the Nasdaq 100 index lost 0.3 percent to 4,558.50.
Data out later this week could also dictate the future trading direction. On Friday, the top-tier nonfarm-payrolls report is due, which will be scrutinized for clues to the strength of the labor-market recovery. The Federal Reserve has said it’s watching economic indicators — wages and employment numbers in particular — as it assesses when to hike interest rates.
The ADP employment report, considered a precursor to the nonfarm data, is due tomorrow.
Factory orders for June, scheduled for release at 10 a.m. Economists polled by MarketWatch expect a 2 percent rise after a 1 percent drop in May.
MOVERS:
CVS (NYSE:CVS) slipped 3.2 percent after the drugstore chain gave a soft earnings outlook for its current quarter.
Archer Daniels Midland (NYSE:ADM) fell 2.1 percent after the processor of oilseeds reported second-quarter profit and revenue below analyst forecast.
Coach (NYSE:COH) jumped 4.8 percent ahead of the bell after the luxury accessories maker reported better-than-expected profit and sales for its fiscal fourth quarter but offered a cautious outlook for the coming year.
Sprint (NYSE:S) gained 6.3 percent after the telecoms company reported a narrower-than-expected loss for its fiscal fourth quarter.
Baxalta (NYSE:BXLT) surged 21 percent after U.K. drugmaker Shire Plc (NASDAQ:SHPG) offered to buy the biopharmaceutical company for about $30 billion.
Regeneron Pharmaceuticals (NASDAQ:REGN) rose 5.2 percent to $554.27 after the biotechnology company reported a 50 percent rise in quarterly revenue, boosted by increasing demand for its blockbuster eye drug, Eylea.
Aetna (NYSE:AET) may be active after the health care benefits company reported better-than-expected second-quarter earnings as it benefits from growth in its government business.
Office Depot (NASDAQ:ODP) may be active after releasing second-quarter earnings that met analyst estimates, but sales slightly missed expectations.
COMMODITIES:
Spot gold was up 0.5 percent at $1,091.33 an ounce, but still not far above the $1,077 it hit on July 24, its weakest level since February 2010. U.S. gold for December delivery was up 0.1 percent at $1,090.50 an ounce.
Brent crude was up $0.80 at $50.32 and U.S. crude gained $0.71 to $45.88. Brent fell to $49.36 at one point yesterday, its lowest since January 30.
OTHER MARKETS:
In Europe, markets were generally lower. Greece’s Athex Composite slumping 2.1 percent on its second trading day after the market reopened after being closed for five weeks.
Chinese shares moved sharply higher after officials announced fresh steps to rein in short selling.