Wall Street Poised For Lower Open

Stocks are falling today as the S&P 500 continues to consolidate after last week’s big reversal.

Index futures are down by almost a full percentage point, compared with losses of close to 2 percent across the Atlantic. Both are currently near session lows. Asian markets were mixed in the overnight session, with Shanghai and Tokyo both modestly higher. Hong Kong and Singapore, however, fell sharply.

Stocks have been rallying since late last year, with the S&P 500 currently on pace for its seventh straight monthly advance. The index has been in record territory since late April, following earlier breakouts by transports and small caps.

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