By Karen Friar, MarketWatch
LONDON (MarketWatch) -- U.S. stock futures pointed lower on
Monday after weak Chinese factory data over the weekend and as
investors wait for more signals from the Federal Reserve on the
timing of its interest-rate hike.
Futures on the S&P 500 (SPX) fell 3.25 points, or 0.16%, to
1,973.50, while those for the Dow (DJI) dropped 21 points, or
0.12%, to 16,885.00. Futures for the Nasdaq (RIXF) fell 5.25
points, or 0.13%, to 4,056.75.
Official figures from China on Saturday showed the country's
industrial output growth slipped in August to the lowest level
since the 2008 global financial crisis, dealing a blow to companies
and economies dependent on China.
Investors may also be keeping to the sidelines somewhat ahead of
the two-day Federal Open Market Committee meeting, scheduled to
begin Tuesday. They will be watching for clues on when the Fed
expects to begin raising interest rates, listening to hear whether
the hike could come sooner than expected.
Data: The New York Fed's Empire State index on manufacturing for
September is expected at 8:30 a.m. Eastern Time, forecast to come
in at 16.0, compared with 14.7 the previous month.
August readings on industrial production and capacity
utilization follow at 9:15 a.m. Eastern Time.
Stocks to watch: Yahoo Inc (YHOO) shares gained more than 8%
last week and are expected to remain in the spotlight as Alibaba
gets set to launch its IPO this week. Yahoo holds roughly a 23%
stake in the Chinese e-commerce giant and intends to sell those
during the IPO, raising the prospect of a big cash windfall.
Apple Inc (AAPL) could see action after the tech company said
Friday preorders for its new iPhones are at a record, though it
didn't provide specific figures.
Netflix (NFLX) is launching in three new markets in Europe on
Monday, with initial resistance to the arrival of the
streaming-media company in France potentially alleviated by a
set-top box deal with Bouygues SA .
U.S. health-care group Danaher Corp. said Monday it will buy
Swiss dental-implant maker Nobel Biocare Holding AG in a cash deal
worth $2.1 billion.
Other markets: In Asia, stocks listed in Hong Kong fell to mark
a seventh session of losses, under pressure from the weak Chinese
data. The dollar (USDJPY) climbed against the yen to Yen107.24.
European stocks were also falling, with the Chinese data in
sight. Gold prices (GCZ4) were moving up, while oil futures (CLV4)
were losing ground.
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